Questions and answers
The estimate
What does Instaflat answer?
Whether the asking price of a flat for sale in Greece looks like a good deal, a fair price or too high, compared with what similar flats are listed for. When the evidence is too thin, it says "Can't tell".
Is the estimate a valuation?
No. It is an estimate of asking prices from a model trained on listings, not a valuation by a certified valuer, and it does not see contract prices. The price a buyer can negotiate is not in the data, and the range is not the tax value (αντικειμενική αξία).
How accurate is it?
It gives a fair range of asking prices rather than one exact figure. Before it is used, each new version of the model is checked on recent listings that were not used to train it. For the kinds of flat it cannot judge reliably, the verdict says "Can't tell" instead of guessing.
Which flats does it work for?
Flats for sale in Greece, Athens and the rest of Attica first, where most of the training data comes from. It gives no verdict for new builds (built 2020 or later), flats under 50 m², flats whose year built is not known, and addresses whose area it does not recognise. Its estimates are also less reliable for very expensive flats.
Listings and photos
Which listing sites can it read?
Sites that let a server read their listing pages. Some, Spitogatos among them, do not, and Instaflat does not try to get around that. For those, you open the listing in your browser and press the Send to Instaflat button you keep in your bookmarks, which sends that page to Instaflat; or you add the photos and the facts yourself.
What happens to my photos?
Each photo is checked, re-encoded as a JPEG and stored under a random name with the flat. Re-encoding drops metadata such as the GPS position. The original file and its name are not kept. Deleting the flat deletes its photos.
Who can see the flats I add?
Your flats are listed only in the browser you added them from. Anyone you give a flat's link to can open it, including the name, contact and signature given on its agreement. Deleting a flat deletes all of it.
The plan and the agreement
What does the $20 plan include?
For one flat: long-term against short-term letting with the net yearly return on each, three renovation options with their cost and added return, the capital it takes and the years until it pays back, and a renovation agreement you can sign on the spot. It needs the flat's floor plan.
How is the plan unlocked?
Press Unlock your investment plan on the flat's estimate page. One unlock covers one flat and everything in its plan.
Where do the renovation costs come from?
From the quantities read from the floor plan and the photos, priced with the Instaflat price catalogue, plus an allowance for contingencies such as hidden defects, and VAT. They are estimates: the contractor you choose confirms the price after a visit to the flat.
Can every flat be let short-term?
Not necessarily. A short-term let needs a property registry number (ΑΜΑ) from the Greek tax authority (AADE), some areas restrict new registrations, and the building's rules may forbid it. Instaflat shows the income of both kinds of let but does not check whether this flat can be let short-term.
What is the agreement?
A renovation agreement for the level you chose, with the scope, price, schedule and payments: on signing, at the mid-point and on handover. You sign it on the spot and print it for the contractor you choose, who adds their details and signs. The contractor confirms the price after a visit, and any change is agreed in writing before work starts. Instaflat is not a party to it and takes no payment for the works.