Speculators warned against flipping for short-term profit

PROPERTY speculators were yesterday warned against churning or flipping property investments for short-term profit.

The warning came from Prestige Group executive chairman Paul Coghlan, whose company has facilitated the placement of €2.5 billion in property investments since its foundation in 1997.

Flipping involves speculators who buy properties off the plans and quickly sell the investments before construction is completed, usually at a significant profit in a rising market.