London and Oslo Are the World’s Costliest Cities to Park a Car, Study Says
Bankers, executives and others employed in the City of London, the U.K. capital’s main financial district, pay on average $1,084 a month to park their vehicles in the neighborhood, according to a study of 156 locations around the world published by the firm today. Parking in Oslo’s business district costs $89.04 a day, the study showed.
“London has consistently ranked as the most expensive parking garage market in the world by a significant margin -- 25 to 35 percent over the past four years,” Ross J. Moore, Colliers’ chief economist, said in a statement.
Parking prices increased in every region except the U.S. during the past 12 months, according to Colliers. The cheapest city to park in is Jakarta at 92 cents a day, $88.12 less than in the Norwegian capital.
On a monthly basis, London’s West End district was the second-most expensive at $1,014, followed by Zurich at $822 and Hong Kong at $744.72, which edged out Tokyo at $744, Colliers said. The priciest daily parking locations were Copenhagen at $73.11 and Melbourne at $69.53, the study showed.
Seattle-based Colliers surveyed the costs of parking in a covered or underground lot in 156 business districts around the world. Manhattan’s midtown and downtown areas are the 17th and 18th most expensive areas at $541 and $533 a month. On a daily basis, Midtown ranked 15th at $41 day and downtown 35th at $30.
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