Real estate or immovable property is a legal term that encompasses land along with anything permanently affixed to the land, such as buildings. Real estate (immovable property) is often considered synonymous with real property in contrast with personal property. The terms real estate and real property are used primarily in common law.

In law, the word real means relating to a thing i.e a personal thing and real thing.We also distinguishes between real property i.e land and anything affixed to it and personal property i.e.everything else, e.g., clothing, furniture, money.

With the development of private property ownership, real estate has become a major area of business. Purchasing real estate requires a significant investment, and each parcel of land has unique characteristics, so the real estate industry has evolved into several distinct fields..