By Doug Gray, Contributing Reporter
RIO DE JANEIRO - With a degree in chartered surveying and several successful projects in the British Isles behind him, James Lomas moved to Rio in 2007 to set up the international branch of Indigo Real Estate Investments, lured by the relatively low cost of property, favorable exchange rates and of course the city itself.
The premise for the business was straightforward on paper, but less so in practice. Due to the high interest rates there is a history of rental rather than ownership in the city’s housing market, purchase prices were stagnant and rental . . .