Welcome to AI-native property investing.
What a property is worth, and whether the deal works at that price. Two analyses, computed from live Thai market data rather than guessed - in minutes, not weeks.
Every buyer asks two questions. Estlla answers both.
They are different disciplines. What a property is worth does not depend on who is buying it — what a deal returns depends entirely on your leverage, your hold and your exit. So they are two products, not one report with two headings.
One property can go through both. Running an appraisal does not re-enter anything you already gave the underwriting model.
An analyst that does the work, not a chatbot that guesses
Four steps run end to end, every time you add a deal. Watch a run happen.
You describe the deal
An address, a price, an expected rent. That is the whole brief - no modelling, no spreadsheets.
Atlas researches the live market
It searches Thai property portals and institutional sources, then reads what it finds, pulling real asking prices from the pages themselves.
It verifies every comparable
Each comp is fetched, opened and re-read: price, size, location. Anything it cannot confirm on the live page is dropped rather than shown.
It writes the memo
IRR, DSCR, cash-on-cash, stress tests, a risk register and a recommendation - cited, downloadable, ready for a partner or a bank.
The memo you would have spent a week writing
Scored, cited and structured the way an investment committee expects to read it - so you can defend every figure in the room.
EstllaInvestment memo · sampleExecutive Summary
A 35 m² unit at Ideo Q Sukhumvit 36, 450 m from BTS Thong Lo. At THB 197,143/m² it sits ~6% below comparable stock - a protective margin with strong expat rental demand.
Percentile vs the Bangkok condo benchmark. Sample analysis.
Everything an investment analyst does, in one place
Valuation, underwriting, market research, verified comparables and an analyst you can question, in one workspace built for Thai property.
Comparables you can open
Every comp links to the live listing it was read from.
11 Bedroom Condo, Nimman74.0K0.24km
23 Bedroom House, Suthep71.1K0.27km
34 Bedroom House, Suthep67.5K0.27kmThe model, not a calculator
IRR, DSCR and cashflow recompute the moment you flex an assumption.
An analyst you can question
Push back on any number. It cites the source, or says it does not know.
Down to the street
Yields and supply by district and zone.
Priced in, not footnoted
Foreign quota, transfer fees and holding taxes hit the model.
Sample analysis.
Four markets, each on its own terms
A Sukhumvit condo and a Hang Dong villa are not the same asset. Each market is modelled with its own comparables, districts and demand drivers.
Thailand's deepest market, priced street by street. Two towers on the same road can underwrite completely differently.
- Walking minutes to BTS and MRT
- Unsold supply in the same district
- Resale spread across Thonglor, Ari, On Nut
The analyst doing all of this is called Atlas
Atlas is the model that reads the market, runs the numbers and writes the memo. Pick how deep it goes: a fast read while you are still browsing, or the long version for a deal heading to committee. Same engine, same verification, different depth of thinking.
Fastest. Good for a quick read on whether a deal is worth a closer look.
Balanced. Searches the live market and grounds every figure in what it finds.
Longest reasoning and the widest search. For deals going to committee.
Every tier verifies comparables the same way. Depth changes how long Atlas thinks and how wide it searches, never whether it checks its sources.
Built to a standard, and clear about its limits
An analysis is only worth what its method is worth. Here is the method, and the honest edges of it.
Structured to IVS 106
The international standard for valuation reporting sets out what a report must convey. Every valuation states its basis of value, the valuation date, intended use and intended users, the approaches applied, the significant inputs, and its assumptions and limiting conditions.
Informed by IVS, not IVS-compliant: there is no inspection, no licensed valuer and no title search.
An automated valuation model
Thailand has no centralised, publicly searchable register of transacted prices — transfers are written on the reverse of the title deed at the local Land Office. So this model is calibrated against asking prices, the Treasury Department appraised value and published research, and it reports a range with a stated confidence rather than a single number.
Asking prices carry a negotiation margin and government appraisals sit below market. Both are labelled as what they are.
Thai statutory content
Every report carries the Treasury Department appraised value (ราคาประเมินกรมธนารักษ์) for the location, the transfer-cost stack a sale would actually incur, the title deed grade and what it means for mortgageability, and the ownership route open to a foreign buyer.
Transfer fee and specific business tax are computed on the government appraised value, not the sale price.
Estlla produces automated indicative valuations and investment analysis. It is not a formal appraisal by a valuer licensed under Thai law (ผู้ประเมินมูลค่าทรัพย์สิน), and must not be used for mortgage lending, litigation or taxation.
Pay for the analysis, not the seat
Every plan is a pool of credits. A quick read costs 1, a researched memo costs 2, an indicative valuation costs 10, and the deepest pass costs 15 - so you spend on the deals that deserve it.
Prices in Thai Baht. Credits are spent per analysis, never per seat - and a run that fails is refunded automatically.
Frequently asked questions
A transparent underwriting engine computes IRR, cash-on-cash, DSCR and a full cashflow from your assumptions. Atlas grounds the market figures in live listings and institutional research, and cites every source.
No - and we engineered specifically against it. Every comparable is fetched from a live Thai portal and re-read on the page behind the link before it reaches your report. If a listing cannot be opened or its price and size cannot be confirmed, it is dropped rather than shown. You will sometimes see fewer comparables as a result; you will not see invented ones.
Yes - that is the Appraisal product, and it is separate from underwriting. It reconciles three approaches (income, sales comparison and cost) into an indicative value range, structured to the IVS 106 reporting standard and including the Treasury Department appraised value and transfer costs. It is an automated valuation, not a formal appraisal by a valuer licensed under Thai law.
Bangkok, Chiang Mai, Phuket and Pattaya - in depth. Every output is locked to the correct city, with comparables, districts and demand drivers specific to that market.
No. Estlla is analytical tooling to help you underwrite and stress-test deals faster. Always do your own due diligence.
Yes - the entire product and every AI report is fully bilingual, English and Thai.