Early An Caislean investors scoop profits

THE early birds into An Caislean, a house development in Ballincollig, made money from the start.

A number of investors who bought here in the first phase of houses had only to pay a €5,000 deposit, and have since sold on their properties which were free of stage payments, and have netted up to €30,000 after costs and capital gains taxes.

Global Properties declined to confirm reports that one investor had deposits on a handful, and walked off with €250,000 for what amounted to little more than paper-work but they are happy to talk about the next phase of sales, apartments.