Parking Prices Study: London and Sydney Top the List

If you happen to own a car and for any reason decide to rent a parking space in the centre of London or Sydney, rising gas prices will be the least of your worries. According to a recent study performed by Colliers International, a property consultancy, London is the most expensive place in the world to park your car - the City topped the list at $1,167 (₤600 or €733) a month with the West End in second place at $1,136 (₤584 or €714). In third spot is Sydney, Australia at $775 (A$825 or €486).

Surprisingly, three more Australian cities made the top ten list with Brisbane at number five and Perth at number eight –Melbourne is eleventh. The most high-priced area to park in Asia is Hong Kong which takes fourth place at $742 (€467) a month while midtown New York City is ranked fifth most expensive at $585 (€367).

In terms of daily parking costs, London’s City submarket tops the list at $68 (₤35 or €43) followed by Amsterdam, London’s West End submarket, Moscow and The Hague. The cheapest city to park in the world is Delhi at a mere $1.75 (€1.1) for the whole day! See the complete Top 25 list along with analytical data on parking prices around the world after the jump. -Continued

Source: Colliers International