Real Estate
What is 'Real Estate'
Real estate is property comprised 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 minerals. Although media often refers to the "real estate market" from the perspective of residential living, real estate can be grouped into three broad categories based on its use: residential, commercial and industrial. Examples of residential real estate include undeveloped land, houses, condominiums and townhomes; examples of commercial real estate are office buildings, warehouses and retail store buildings; and examples of industrial real estate are factories, mines and farms.
BREAKING DOWN 'Real Estate'
Personal Property and Real Property
Personal property includes intangible property like stocks, bonds and other investments; it also includes chattels, like computers, beds and clothes, as well as fixtures like the dishwashing machine in your apartment – if you bought and installed it with the lessor's permission.
Real estate is a special instance of real property, which is real estate – land and buildings – plus the rights of use and enjoyment that come with the land and its improvements.
Land that has no owner, e.g. land in Antarctica or on the moon, is not considered real estate.
