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A piece of land and whatever physical property is on it.
Land and the improvements on it. Real estate is one of the primary (and indeed one of the only) assets whose value does not depreciate over time. Depending on the particular title, ownership of real estate may include mineral rights to any geophysical aspects occurring thereon. Ownership of real estate does not automatically include the right to develop it, depending on local regulations. However, development of real estate (for example by building a house on it) usually increases the value. While supply of real estate does not vary, demand may change greatly depending on its particular features, number of people in the area, and cultural differences regarding land ownership. It is an attractive form of collateral because it cannot be stolen or destroyed. See also: Plot, zoning law.
The land, buildings, and improvements thereto. Also called real property.