[Masterwoodsman]

I've been made aware of this latest scam involving the purchase of Freehold Condominiums...

As many of you are aware the real estate market in Thailand has gone very quiet this last 2 years especially those properties which involve buying the land title on which your property is built.

Hence... the sale of Freehold condo's and apt's have gone through the roof as have the prices !!

This week i purchased 2 freehold condo's off plan from a developer whom i know and have done business with before. Apparently because the demand for Condo's/apts, having a Freehold title, are so high new developments are charging a fee of 1 million baht in order to obtain the title.

Basically when a new developement is built 49% of the Condo's total construction area is honoured a Freehold title. So basically these are issued on a first come first served basis. Once the 49% has been sold the other 51% would be purchased usually on a 90+90+90 lease hold basis.

New developers are using the "supply and demand" to their advantage and saying because there is so much interest in the obtaining of a Freehold title they are only offering the lease hold. Then when the client enquires about the Freehold they are told they are available but at a cost of 1 million Baht. Apparently developers are also conning clients into thinking this is a new law in Thailand because there are not many freehold titles left for foreigners to obtain with condo/apt purchases....

Buyers beware its not Thai Law its a complete con !!!