In real estate appraisal, remaining economic life refers to the estimated number of years from the date of an appraisal until an improvement is no longer economically useful. It represents the period during which the property is expected to contribute value through income or utility.
Remaining economic life is distinct from physical life, as a structure may remain standing even after it has ceased to be economically viable. Appraisers use this concept to assess depreciation and determine value, particularly under the cost approach.
