April 27, 2011

Condominium Act Amendments and Their Implications

Bangkok Post, Corporate Counsellor Column

In a move to address numerous complaints from condominium buyers, the Thai government has enacted the Condominium Act (No. 4) 2008. Effective as of July 4, 2008, the new law significantly expands the scope of consumer protection to potential condominium buyers by amending several provisions of the existing Condominium Act 1979. Since passage almost 30 years ago, the original Act has been amended three times in an attempt to keep the law up-to-date with new private sector developments and practices. However, this latest amendment has been one of the most comprehensive overhauls of the original Act; extending buyer protection, enacting additional requirements and duties for developers, and modifying restrictions on foreign ownership.

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