Yes, I remember this one from my "Betamax-phase" as well. My older brother had a copy of it, along with some other classics like the ToolBox Killers, Rabid, Bogey Man and so on.

I'm also trying to figure out the name of another horror flick from the 80s. It's a murderer killing his victims using a pair of scissors, and the movie has the mandatory victim in a yellow raincoat getting stabbed.

Think it's called something like "Masada" or similar and it might be Italian, but I'm not sure...