Real estate development, or property development, is a business process, encompassing activities that range from the renovation and re-lease of existing buildings to the purchase of raw land and the sale of developed land or parcels to others. Real estate development is different from construction or housebuilding, although many developers also manage the construction process or engage in housebuilding.

The physical result or product of the development process can also be referred to as a real estate development. A project under construction or a recently completed building project such as a housing tract or office park are examples of real estate developments.