The term real estate, in its broadest sense, speaks to any physical property. Real estate however, also speaks to any land holdings with contained buildings, cultivated or uncultivated vegetation, minerals, reared livestock or crops; whether grown for domestic or commercial purposes. The concept of real estate can also be categorized in three groupings; industrial, commercial and residential. Residential real estate refers to undeveloped land, townhouses in developments and houses. Commercial real estate, on the other hand, speaks to property that facilitates the operation of businesses; warehouse spaces, store buildings and retail office spaces. Industrial real estate is property utilized for farming, mining and factories. Having ascertained what constitutes real estate comes with the pronouncement that this asset, as with most others-personal or business, attracts tax deductions.
