No Changes in Condo Foreign Ownership

The recent visit by the Thai Director of the Land Department had our blog buzzing when a number of news agencies quoted him as saying 'foreigners were only allowed to own 40% of a condominium.' It seems something was lost in translation as we have checked a number of sources and confirmed the 49% threshold remains a fact of law.
I spoke to Desmond Hughes, Deputy Chief Executive Officer of the legal firm Limcharoen, Hughes & Glanville who are highly respected solicitors engaged in advising a number of condo project and he commented:

"The Condominium Act, (4th Issue), B. E. 2551 (2008) hasn't changed the foreign ownership quotas for condominiums, which are based on the registrable area of a condominium, and allow 49% of the registrable area to be sold to foreigners, directly"
Hopefully this is now clear to everyone who had reacted to the reports.