80% of Romanians plan to revamp house during next period, study finds

Around 80 percent of Romanians plan to revamp their houses in the next period, while 72 percent reject the idea of immediate desires with large costs, compared to 63 percent recorded in 2010, according to the IRSOP “Bauspar attraction: Romanians discover savings for low-cost investments” study conducted in October 2011 together with housing bank BCR Banca pentru Locuinte (BCR BpL). Moreover, 75 percent of the Romanians plan saving and spending less, compared to 74 percent in 2010. Over half of the people living in Romania prefer saving instead of loans, compared to only 32 percent recorded last year. The saving rate also grew from 23 percent in 2010 to 36 percent this year, according to the study. BCR BpL, subsidiary of BCR Group, was founded in 2008. Its main shareholders are Banca Comerciala Romana (BCR) with 80 percent of shares, and S Bausparkasse der oesterreichischen Sparkassen with the rest of 20 percent. Irina Popescu, irina.popescu@romania-insider.com