Real estate refers to property consisting of land and the buildings on it, along with its natural resources such as crops, minerals, or water. It also includes any improvements to the land, such as buildings, fences, wells, and other site improvements. Real estate can be residential, commercial, industrial, or agricultural. The term "real estate" is often used interchangeably with "real property" or "realty." Real estate is a valuable asset and is often bought, sold, and leased for various purposes.