Real estate is property made up of land and the buildings on it, as well as the natural resources of the land including uncultivated flora and fauna, farmed crops and livestock, water, and any additional mineral deposits.

​

Real estate is a tangible asset and a type of real property. Real property examples include land, buildings and other improvements, plus the rights of use and enjoyment of that land and all its improvements. Renters and leaseholders may have rights to inhabit land or buildings that are considered a part of their estate, but these rights themselves are not, strictly speaking, considered real estate.

Real property is not the same thing and should not to be confused with personal property. Personal property includes intangible assets like investments, along with tangible assets such as furniture and fixtures like a dishwasher. Also, even renters may claim parts of a home as personal property, provided you bought and installed the property with the lessor's permission.

​

Although the media often refers to the "real estate market," real property examples can be grouped into three broad categories based on its use.

• Residential real estate includes undeveloped land, houses, condominiums, and townhouses. The structures may be single-family or multi-family dwellings and may be owner-occupied or rental properties.

• Commercial real estate includes nonresidential structures such as office buildings, warehouses, and retail buildings. These buildings may be free-standing or in shopping malls.

• Industrial real estate includes factories, business parks, mines, and farms. These properties are usually larger in size and locations may include access to transportation hubs such as rail lines and harbors.