Let me answer easy question frist: Is time real? Time is a gap between two events as a distance is a gap between two points. Since everything in this universe is in motion, you need to have two quantities to locate the object; one space and another time. X, Y, Z three space co-ordinates and "t" time co-ordinates can exactly define any classical object in the universe. This is reason why the universe is called space-time. If nothing were changing and everything were stationary, you wouldn't need time coordinate. Since things are changing you need both, space as well as time. If you consider space is real, you must consider time is also real. Both are real measurable quantities. However, space and time both are relative quantities. You have to take a refrence point or event to measure them. There must be two points to measure space and two events to measure the time. Those refrence points could be anything of your choice and convinience. For example I am 1.5 miles North-West from my resistance (refrence point) at nearly 2001+2/12+2/360 years since the Christ Era (refrence event) started. When body changes space with time it has velocity and when velocity change with time it has acceleration. The measurement of space and time depends on the motion of the object. When object moves pretty fast (close to the velocity of light), space contraction and time diluation take place. In other words if you were measuring 1m while moing slow, you will find the same space is less than 1m while moving faster. Similarly, time will pass very slowly at higher velocity. This is special called relativity theory. All I mean is time and space are not absolute quantities but they are real quantities. If they were not real they wouldn't be considered physical quantities :). As physical the space is that physical the time is. Anything that you can measure is physical and real.