The main objective of this work is to explain an accounting scope of real estate investments, starting from a classification of real estate according to its purpose, which is accompanied by corresponding accounting standard practices. Furthermore, the topic focuses on real estate investments from the aspect of corresponding accounting standards which classify it as such and explains direct and indirect forms of real estate investments and forms of commercial real estates that are most represented on the real estate market. The very core of this work represents chapter about real estate investment accounting which extensively breaks down this real estate classification in terms of corresponding accounting standards demands through initial recognition and measurement, subsequent measurement, reclassification, accounting policies changes, cessation of recognition and publication of real estate investment accounting information, and all of that with the addition of group of accounts in the accounting plan used for documenting real estate investments and examples of documenting different business events tied to real estate investments. The conclusion is a review on the current state of Croatian real estate market under the influence of global health pandemic caused by the corona virus and earthquakes that struck the area of city of Zagreb and Sisačko-moslavačka area.