<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000908996
<NAME> PIONEER REAL ESTATE SHARES
<SERIES>
<NUMBER> 004
<NAME> PIONEER REAL ESTATE SHARES CLASS Y
<CURRENCY> US
<S> <C>
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<PERIOD-END> JUN-30-2000
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<NUMBER-OF-SHARES-SOLD> 13989
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<NET-CHANGE-IN-ASSETS> (5503437)
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<EXPENSE-RATIO> 1.12
</TABLE>
