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Romanians richer due to increase in real estate price

Luni, 10 iulie 2006, 0:00

Romanians have grown richer in the last few years, as the price of residences has increased, a study of the Romanian Central Bank (BNR) shows. A Romanian’s wealth comprises 40% more real estates than a European’s.

90% of the Romanians' belongings represent the properties they own. Hence the properties’ prices boom prompted a real increase of wealth, according to analysts.

Only 10% of the Romanians’ wealth is represented by financial assets, out of which 75% are kept in banks or in cash, while 25% are invested in bonds, shares and life insurances. The situation explains Romanian’s fear of taking risks.

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