TAXMEN would have to deploy huge resources to track the paper trails of speculators reaping tens of thousands of dollars from selling purchase rights at flat pre-sales.

Speculators were selling flat coupons at an average of $50,000 a piece for Island Harbourview flats at Tsim Sha Tsui Centre yesterday.

But the Government may have trouble seeking profit taxes. 'It won't be able to chase taxes since these transactions are under the table,' a conveyancing solicitor said.