One of the obvious trends is the rising number of pre-built houses and condominium projects. This is a direct result of a common scenario during the crisis, in which many cash-poor developers abandoned projects before completion, leaving many buyers who had made down payments high and dry.

According to a survey by the Faculty of Architecture at Chulalongkorn University on the ranking of new projects attracting homebuyers' interest, pre-built housing projects led the list with a score of 44.3%, followed by housing projects under construction at 28%, and partly finished projects in which designs could be modified at 27.5%.

To ease homebuyers' concerns about future property bubbles, several other regulations have been put in place including proposed new Bangkok zoning rules that will bar large condominiums on small sois, more cautious lending to developers, the establishment of a national database and a plan to set up an escrow system.

According to data from the Consumer Protection Board, from January to September this year, the number of complaints lodged by consumers for negligence by housing and land developers totalled 985, while complaints related to condominiums totalled 367. Of these, 122 disputes were settled through negotiation and the total compensation paid to the buyers was 25.14 million baht.

The number of complaints appears to be falling from the previous year when housing and land complaints totalled 1,354 and condominium cases amounted to 588. Only 16 were settled through negotiation and total compensation of 18.83 million baht was paid.

According to Rasamee Visitavet, the board's secretary-general, this year the number of cases settled through negotiation and the compensation awarded have both increased significantly, partly due to the improved financial status of the real estate industry.

Most petitions filed pertain to unfinished projects, violations of contracts or commitments of developers, and buyers' inability to obtain transfer of ownership rights after payment.

From the start of 2003 to October this year, the board has filed 192 lawsuits. Of note, it has won every single one and secured compensation of 257 million baht for homebuyers.

Prior to making any purchase decision, Mrs Rasamee suggests buyers follow the checklist below:

- If you are not buying a pre-built unit, the developer's credibility is a vital factor. Thoroughly check out the background of the developers and make sure it is not blacklisted. Buying from a large, reputable company might cost more but it will save you money and headaches later.

- Check the title deed to see who is the actual owner and whether the property is mortgaged or under any debt obligation.

- Study the contract thoroughly and ask for the exact completion date so that you can take legal steps in case there is a delay or doubt about the extension of the project. As well, the contract must comply with the form regulated by the Department of Lands.

- Always keep all advertisements placed by the developers as they are considered part of the contract, with mandatory details such as property registration numbers. This may be useful proof in the future.

- Check if the project has passed the Initial Environmental Evaluation (IEE) regulations. This new law will require condo projects with fewer than 80 total units and single-house projects with 30 units or less to submit the IEE reports.

Next year, the law will take effect and projects that fail to submit reports and pass all the requirements will not be permitted to proceed with construction.