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.