This research provides an overview of the perceptions of South African Real Estate Investors entering the African Property market. Specific consideration is given to the important difference between perceived and real risk associated with these markets. The paper is based on a sample of 24 investors and considers the type of legal partnerships that South African investors use to mitigate risks associated with these markets. In addition, it reflects on the sectors that South African Investors target in Africa. It concludes that the risk/return profile in many African countries is attractive to investors.