Toronto, Ontario – Parking rates across the country are climbing, but Calgary sets the record for the priciest spots in Canada, according to a new report by Colliers International.
Canada’s median monthly parking rate reached $224.10, while the median daily rate rose to $14.83, an increase of two per cent from last year. However, the rate has slowed considerably from the 9.9 per cent increase experienced in 2008/2009. Colliers expects parking rates to continue to increase, especially toward the second half of 2011.
Of the 12 major cities surveyed in Canada, Calgary maintained its top rank as the most expensive, with a median unreserved monthly parking price of $453.38. The city was also the only Canadian location to make it into the global list of priciest cities, ranking fourteenth.
The top five for an unreserved monthly parking spot, after Calgary, were Toronto at $336.25; Montreal at $280.62; Edmonton at $275.00; and Vancouver at $266.81.
The national average was $224.10; below that was Victoria at $180.00; Regina at $162.75; Ottawa at $160.00; Halifax at $158.20; Winnipeg at $152.25; Saskatoon at $147.00; and Kitchener-Waterloo, Ontario, at $116.94.
Globally, the most expensive city is London, England, at an equivalent of $933.00 (all remaining figures U.S.) for a monthly spot. It was followed by Hong Kong at $744.72; Tokyo at $654.00; Zurich at $605.64; and Sydney, Australia at $591.28. The three cities in the top 25 global locations were New York City at $538.00, ranked eighth; Boston, $425.00, ranked 18th; and San Francisco, $375.00, ranked 22nd.