Definition of 'Real Estate'
Land plus anything permanently fixed to it, including buildings, sheds and other items attached to the structure. 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 real estate include undeveloped land, houses, condominiums, townhomes, office buildings, retail store buildings and factories.
Investopedia explains 'Real Estate'
Unlike other investments, real estate is dramatically affected by the condition of the immediate area where the property is located - hence the well-known real-estate maxim, "location, location, location." With the exception of a national or global recession, real estate values are affected primarily by local factors such as the availability of jobs, crime rates, school quality and property taxes.
For more, check out Exploring Real Estate Investments: Introduction