The concept of real estate begins with land, but typically includes more. Real estate also includes all the artificial improvements to land, such as buildings, sewers, pavements, fences and wells.
When discussing real estate, we are talking about the entire property as a physical entity—soil, minerals, air space and all improvements. The real estate industry sees all of these as commodities that can be quantified, bought, sold and transferred.
In short, the term "real estate" starts with the land, but then includes all improvements made to that land.
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