Legal Measures for Consumer Protection in Cases of Consumers Who Do Not Receive Real Estate as Contracted after Purchasing Real Estate before Construction Completion: A Comparative Study of Measures in Thailand and the Rehabilitation of Abandoned Housing Projects in Malaysia

Abstract

This research is to study the legal measures for consumer protection in cases of consumers who do not receive real estate after entering into a contract to purchase real estate and have made payment before the construction is completed, to study escrow law in Thailand, to compare the rehabilitation of abandoned housing projects in Malaysia and to propose legal measures that provide appropriate consumer protection aligning with Thailand’s economic and social conditions.

The research results found that legal measures for consumer protection in Thailand are unable to protect consumers in the case of real estate purchase contracts before the construction is completed because such legal measures can neither oblige real estate developers to refund the payment to consumers nor allow consumers to receive the real estate. In contrast, the rehabilitation of abandoned housing projects in Malaysia can enable consumers to receive a refund or the real estate as contracted. Therefore, the rehabilitation of abandoned housing projects in Malaysia should be adapted in Thailand.

Based on the research result, the researcher recommended amending the Escrow Act B.E. 2551 (2008) along with other related laws to provide protection for consumers who are involved in purchasing real estate before the construction is completed and to allow for the rehabilitation of abandoned real estate, which will result in consumers being protected when entering into contracts to purchase real estate, which will also be beneficial to the economy and society of Thailand.