With the continuous development of China's economy, the real estate industry is very important as a pillar industry in China ,the risk of real estate also have different forms .technology and policy aspects of risk gradually increased, the economic risk has decreased, the regional differences have reduced, the signal of investment risk is always growing. This article analyzes the relationship of real estate investment and the risks,we mainly talk about the relationship from two aspects,they are characteristics of real estate development and investment process of real estate development. and we also talk about the role of real estate investment risks and how to deal with real estate development and investment risks. Second, the article introduced the method to identify the risk of of the real estate development project. The article analyzes the real taste