PIONEER REAL ESTATE SHARES
NSAR-A, 1997-08-26
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<PAGE>      PAGE  1
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<PAGE>      PAGE  2
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<PAGE>      PAGE  3
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<PAGE>      PAGE  6
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<PAGE>      PAGE  7
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<PAGE>      PAGE  8
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SIGNATURE   ROBERT P. NAULT                              
TITLE       ASST. SECRETARY     
 


<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000908996
<NAME> PIONEER REAL ESTATE SHARES
<SERIES>
   <NUMBER> 001
   <NAME> PIONEER REAL ESTATE SHARES CLASS A
       
<S>                             <C>
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000908996
<NAME> PIONEER REAL ESTATE SHARES
<SERIES>
   <NUMBER> 002
   <NAME> PIONEER REAL ESTATE SHARES CLASS B
       
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000908996
<NAME> PIONEER REAL ESTATE SHARES
<SERIES>
   <NUMBER> 003
   <NAME> PIONEER REAL ESTATE SHARES CLASS C
       
<S>                             <C>
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<NUMBER-OF-SHARES-SOLD>                         789813
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</TABLE>


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