Calgary parking fees 2nd highest in N. America
Calgary is now among the top 25 world destinations for pricey parking and second only to New York in North America.
According to Colliers International's annual global survey of downtown parking rates, Calgary ranks 21st in the world.
The survey by the real estate services company found Calgary's median monthly unreserved rate has risen by 4.2 per cent over the past year, to $472.50.
|Monthly downtown parking rates in 12 Canadian cities:|
|Rate||Change from 2010|
|(Source: Colliers International)|
That is more than double the national average of $235.76. Calgary trails New York in North America were rates are $519 Cdn. midtown and $511 downtown.
A visitor from Calgary can find a spot for a month in San Francisco for $113 less than at home. The most expensive place in the world to park is London's financial district, with a median price of $1,039 a month.
8 Canadian cities see increases
The survey found parking prices have soared in eight of 12 major Canadian cities over the past year, the dark side of a healthy economy.
Drivers in Kitchener-Waterloo paid the largest percentage increase, up 9.7 per cent to $128.24 and those in Vancouver paid 7.9 per cent more at $287.98.
"The limited supply of new parking spots added to the national pool coupled with a strong economy that weathered the global recession, continue to put upward pressure on parking rates nationally," said Suzanne Bedford, senior vice president with Colliers International in Canada.
"As business activity and consumer confidence continue to improve, expectations are that parking rates in Canada will increase at an even higher pace over the short- and mid-term."
Some drivers were better off. Those in Ottawa saw a 6.6 per cent drop to $195 and in Toronto fees fell 1.2 per cent to $332.38.