Home in Noord-Holland €175,000 more expensive than Groningen

The price difference in buying a home in the Netherlands' cheapest and most expensive provinces is now 175 thousand euros, according to economists at Rabobank. The average price of a home in Noord-Holland is 388 thousand euros, while the average price in Groningen is 213 thousand euros, NU.nl reports.

Before the financial crisis, the price difference between the cheapest and most expensive province was around 100 thousand euros. "But because the already expensive houses in Noord-Holland have risen in price faster over the past yeas than houses in the province of Groningen - where houses are the cheapest - that difference has increased considerably", housing market economist Carola de Groot said.

In the second quarter of this year, the average price for a home in the Netherlands was 303 thousand euros, almost 18 thousand euros more than the same quarter last year. In Amsterdam the average home price increased by 6.9 percent to 462 thousand euros in the second quarter. And in Utrecht the average price rose by 9.7 percent to 378 thousand euros.