Klimt Cairnhill showflat

Real estate is the land, buildings, and other natural resources in a specific area. A home in a quiet neighborhood will have a higher value than one near a highway. The house's "relevance", or utility, will determine its value. A home located near a school or hospital will be more valuable that one in an industrial area. It is also more expensive to purchase a piece of property in a highly-desirable area, such as a shopping mall.