There is a lot more speculation in real estate and stocks than there would otherwise be because a lot of people simply want to "pause" their money, but thats not an option because of inflation.

So they hold more stocks and real estate than they actually want to cause its the next best thing. In theory, thats where bitcoin comes in, and they no longer have to compromise. Now they actually CAN pause their money, using bitcoin.

Real estate does naturally appreciate, and it makes sense that it does, but without inflation it appreciates significantly more gradually.

Real estate is too broad a category. Residential homes are fundamentally different than farms which are not the same as office space.

Also, real estate is not fungible. An apartment in NYC is not the same as an apartment in Charleston.

On the whole I'd say real estate is a good store of value simply because the supply can't be easily diluted (and for land the supply is constant). It has risks (like confiscation) but this is true of any store of value. Bitcoin is a great store of value but you do risk losing your coins. You can mitigate that by using a custodian but then you have counterparty risk.