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                                                                       EXHIBIT 5


                                November 2, 1998


Post Properties, Inc.
One Riverside
Suite 800
4401 Northside Parkway
Atlanta, Georgia 30327

         Re:      Post Properties, Inc. -- Common Stock

Ladies and Gentlemen:

         We have acted as counsel for Post Properties, Inc., a Georgia
corporation (the "Company"), in connection with the registration under the
Securities Act of 1933, as amended, of 1,150,000 Shares of Common Stock (the
"Shares") pursuant to a Prospectus Supplement dated October 29, 1998 (the
"Prospectus Supplement").

         In connection with this opinion, we have examined and relied upon such
records, documents, certificates and other instruments as in our judgment are
necessary or appropriate to form the basis for the opinions hereinafter set
forth. In all such examinations, we have assumed the genuineness of signatures
on original documents and the conformity to such original documents of all
copies submitted to us as certified, conformed or photographic copies, and as to
certificates of public officials, we have assumed the same to have been properly
given and to be accurate. As to matters of fact material to this opinion, we
have relied upon statements and representations of representatives of the
Company and of public officials.

         This opinion is limited in all respects to the federal laws of the
United States of America and the laws of the States of Georgia and New York, and
no opinion is expressed with respect to the laws of any other jurisdiction or
any effect which such laws may have on the opinions expressed herein. This
opinion is limited to the matters stated herein, and no opinion is implied or
may be inferred beyond the matters expressly stated herein.

         Based upon the foregoing, and the other limitations and qualifications
set forth herein, we are of the opinion that:

                  (i) The Company is a corporation validly existing and, based
         solely on a certificate of the Secretary of State of the State of
         Georgia, in good standing under the laws of the State of Georgia;


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Post Properties, Inc.
November 2, 1998
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                  (ii) Upon the issuance and sale of the Shares as described in
         the Prospectus Supplement, such shares will be validly issued, fully
         paid and nonassessable.

         This opinion is given as of the date hereof, and we assume no
obligation to advise you after the date hereof of facts or circumstances that
come to our attention or changes in law that occur which could affect the
opinions contained herein. This letter is being rendered solely for the benefit
of the Company in connection with the matters addressed herein. This opinion may
not be furnished to or relied upon by any person or entity for any purpose
without our prior written consent.

                                Very truly yours,


                                King & Spalding