Phuket Condominium Act Amended

A new law released by the Thailand Lands Office which amends the 1999 Condominium Act, clarifies the rules for disputes between developers and buyers.

Fines of 50,000 to 100,000 baht have been set to address developers who don’t fulfill their advertising claims. Phuket developers will also be required to submit brochures to to the managers of the condominiums to make sure that the finished condos closely match the  sales pitch.

These amendments contain contract standards and also made developers responsible for monthly fees for unsold units. Failure to pay these fees could cost up to 20% for fees over 6 months overdue.

Other changes to the law will affect voting rights, condominium managers, and Phuket condominium projects under construction.