How Instaflat works

Instaflat has two stages with their own pages. The first is free and needs only the listing. The second needs the flat's floor plan and is part of the paid investment plan.

Stage 1: the free estimate

1. Start from the listing. Paste its link, or add your own photos with the asking price, size and address.
2. Check what was read. The asking price, size, bedrooms, floor, year built and address are shown, and you can correct any of them. Each change recomputes the estimate.
3. Read the estimate. You get a fair range for the asking price, where the asking price falls against it, and a verdict: Good deal, Fair price, Overpriced or Can't tell.

Listing sites that refuse a server

Some listing sites, Spitogatos among them, do not let a server read their pages. Instaflat does not try to get around that. Instead, 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 yourself.

Stage 2: the investment plan

1. On the flat's estimate page, press Unlock your investment plan.
2. Add the floor plan: one image in JPG, PNG or WebP, one of the listing's photos, or a screenshot of a PDF page. If the listing has none, ask the agent or the seller; it is usually part of the building permit drawings or the deed of horizontal ownership. You see the rooms that were read and confirm them.
3. Read the plan: the rooms with their sizes and condition from the photos, a renovation at three levels (Refresh, Standard, Full) with a 3D view of the layout, the cost by trade and a schedule, and the rental income before and after renovation, long-term and short-term.
4. If the plan suits you, press I want this plan and it becomes a renovation agreement for the contractor you choose: you read it, sign it on the spot and print it. Nothing is paid when you sign.

Where the numbers come from

• Price estimate: a model trained on asking prices of Greek flats from published listing data and from agency sites that allow automated reading. It estimates listing asking prices, not the price in the contract or the tax value (αντικειμενική αξία).
• Rooms and condition: read from the photos by an image-reading model, with the floor plan as the guide to the layout. What the listing states, such as the floor area, counts over what the model infers.
• Comparable listings for rent and for sale: searched on the web by a model, kept only when the page can be checked, and shown with their links.
• Renovation costs: the quantities read from the floor plan and the photos, priced with the Instaflat price catalogue, plus an allowance for contingencies and VAT; the contractor you choose confirms the price after a visit.
• Rents: comparable listings found for the flat, or the Instaflat rental assumptions when too few are found, listed in full under "How this is calculated".
• Yield and payback: the yield is net, after management, running costs and the time the flat stands empty; for a short-term let the platform fee and cleaning are taken off too. It is before income tax. The capital is the asking price plus the renovation cost, without the costs of the purchase (transfer tax, notary, lawyer, land registry fees, agency fee).

What it does not do

• It does not value a flat for a mortgage, a court or tax purposes, and it does not see the sale price.
• It does not check the title, the land registry entry, the planning status (unauthorised works, legalisations) or the structure of the building, nor whether the renovation needs a small-scale building works approval. A lawyer and an engineer confirm these.
• It does not check whether the flat can get the property registry number (ΑΜΑ) a short-term let needs. Some areas restrict new registrations, and the building's rules may forbid short-term lets.
• 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.
• It does not choose or vet a contractor for you.