The foundation · how we know what we know
Most foreign-buyer brokers operate on a list of 15 to 20 projects developers are pushing. We operate on a continuously-refreshed dataset across pricing, demand, supply, macro, and comparables · synthesised through proprietary scoring + verdict layers · cited per claim, freshness-stamped per metric.
The data foundation is not the marketing layer · it is the product. Every claim on this site, every score, every verdict, every cashflow projection traces back to the sources below. When a number changes upstream, our recommendation moves with it. When a source is unmeasured for a specific project, the projection is transparently labeled.
Cited sources
14
Pricing · placement · demand · supply · macro · comparables · pipeline
Projects under coverage
62
19 measured · 43 projected · all transparently labeled
Weekly Thai research feeds
5
curated Thai property channels · ~250 posts per week sampled
FX + SET monitoring
Daily
Currency rates + listed-developer disclosures · same-day alerts
The source stack · 19 cited inputs
01
Pricing
Live market listings
Weekly
All 62 projects · 19 measured + 43 area-projected
02
Placement
Monthly
800m walking radius · cafes / restaurants / gyms / malls / schools / hospitals / transit / supermarkets
05
Pipeline
Thai property channels · 5-page scoop
Weekly Tuesday
Curated Thai property channels · ~250 posts per week sampled
06
Pipeline
Internal research feed
Weekly Monday
Developer sites + property news + institutional reports · 8 listed developers
07
Pipeline
Daily
Top 8 listed developers · SIRI / AP / ORI / NOBLE / ANAN / PSH / RML / LPN
08
Macro
Monthly
BoT official Housing Price Index for Bangkok condos · monthly FX reserves
10
Comparables
Annual + quarterly
Bangkok prime per-sqm vs comparable European capitals
11
Comparables
Quarterly
Bangkok condo market · supply / demand / pricing
12
Comparables
Quarterly
Per-corridor pricing + foreign-buyer share + vacancy data
13
Demand
Annual
60+ JCI-accredited Bangkok hospitals · medical-tourism volume validation
14
Visual
Real-time
Satellite aerial imagery for every project location · brass-pin marker
16
Macro
Annual
Thailand upper-middle-income classification · macro reframe evidence
17
Demand
Annual
Thailand tourism arrivals + medical-tourism volume validation
18
Demand
Annual
Bangkok French-curriculum schools · family-buyer validation
19
Demand
Annual
Bangkok German-curriculum schools · family-buyer validation
The synthesis layer · turning data into decisions
Khorna Score
Inputs
Yield (25) + Appreciation (25) + Demand (15) + Walkability (15) + Liquidity (10) + Quality (10) = 100
Output
0-100 grade per project · A+ / A / B+ / B / C+ / C
see in product →Khorna Verdict
Inputs
Score + market-asking-delta + catalyst-tag → BUY NOW / MODEST EDGE / GOOD ENTRY / FAIR PRICE / WAIT / SKIP
Output
Buy / wait directional recommendation per project
see in product →Off-plan timeline
Inputs
Expected delivery + price band + appreciation rate + payment schedule
Output
Cash-now-vs-handover model + early-exit simulator + phase-strategy explainer
see in product →Currency-aware cashflow
Inputs
Rental estimate + management fee + juristic + tax + FX snapshot
Output
Net cashflow in 8 home currencies · convertible per project · per unit-type
see in product →Pipeline · what's building next
Every quarter we add new feeds. Each new source either deepens an existing component (Khorna Score gets sharper) or unlocks a new product surface (foreign-quota live tracking, transaction-data verdict math, supply-pipeline forward visibility). Below is what's measured, what's in build, and what's queued.
Live now
5-source FB-scoop pipeline + public listings + Google Places + Ahrefs + FX
Q3 2026
Thai Land Department transaction records · actual sale prices per building, not asking
Q3 2026
Foreign-quota availability per building · live tracking via Land Office records
Q4 2026
EIA construction-permit pipeline · 18-30 month forward supply visibility
Q4 2026
DTV + LTR monthly issuance · resident-pipeline thesis with hard numbers
Q1 2027
BTS + MRT per-station ridership · transit-corridor demand signal
Q1 2027
Bumrungrad / Samitivej / BNH foreign-patient volume · healthcare-tourism flow
Q2 2027
Pantip + Reddit + Thai property forum sentiment · per-building qualitative layer
The honesty layer · what we don't claim
We measure what we measure.
When a source is not yet collecting data for a specific project (typical for very-new off-plan launches before the project name builds search demand), the score component falls back to the area-baseline projection · explicitly labeled “projected” rather than “measured.” The score is still informative, but visitors see the difference at a glance.
We disclose where the math has uncertainty.
Off-plan appreciation projections compound the project's expected annual rate over the construction period. We disclose this assumption every time we use it · CBRE / JLL / Knight Frank area data underpins the rate, not our opinion. Same for cashflow tax assumptions (10% effective for Thai-domiciled foreign rental income), management fees (Maison Siam 20% all-in), juristic estimates (65 THB / sqm / month).
We name the catalysts and the risks.
Every catalyst we cite (F1 Thai GP 2028, Marriage Equality Act 2024, Soft Power Strategy) is sourced. Every risk we know is named (FX-control friction on outbound, contract-enforcement variability outside prime, political-cycle volatility · though Bangkok prime has not crashed in any of Thailand's four military transitions since 1997).
We update when sources update.
Knight Frank Prime Global Cities Index 2025 replaces the 2024 edition the moment Knight Frank publishes. CBRE Q4 2025 replaces Q3 2025. Michelin Guide Thailand 2025 replaces 2024. Static reference dates corrode trust · we keep them current through the cron stack.
Why investors trust Khorna
Projects underwritten
50+
Across 11 prime Bangkok corridors
Data refreshed
Weekly
Live market data · weekly refresh
Net yield audited
5 to 7%
Per project, not portfolio average
Buyer-side alignment
100%
We earn from developer side, not from you
Founder credential
Built by ex-Société Générale Hong Kong investment banker, top-ranked at foreign portals Thailand.
Alexandre Beaumont leads Khorna's underwriting and developer-relationship work. Twelve years of cross-border investment-banking discipline applied to Bangkok property. Etienne Alcouffe builds the data + product layer · live FX, live market data, proprietary scoring.
About the team →Methodology
Every data table on this site cites its source. Bangkok prime pricing refreshed weekly from public listings + verified against CBRE Thailand + JLL quarterly reports. FX from Frankfurter API. Sovereign and macro from S&P / Fitch / Moody's published ratings. School and hospital data from registries (JCI, AEFE, Auslandsschulwesen, British Schools Overseas, Ookla Speedtest).
Khorna Score is published openly · 6-component breakdown on every project page. Khorna Verdict reasoning is published openly. We disclose where the convergence-thesis math has uncertainty.
See the methodology →Two ways to access the data foundation
Free · current site
Khorna · the lead-gen funnel
Pro · waitlist · 299 THB/month
Khorna Pro · serious-capital tier