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Rediff.com  » Business » Sydney biz district parking among world's most costly

Sydney biz district parking among world's most costly

July 07, 2009 11:57 IST

Sydney's Central Business District has been ranked as one of the priciest places in the world to park a car, outranking Manhattan, Zurich and almost every city in the Asia Pacific, a new survey has found.

According to Colliers International's annual parking rate survey, average cost of parking a car in Sydney's CBD is Australian $733 a month, making it the fifth most expensive city in the world, AAP reported on Tuesday.

The only more expensive city in the Asia Pacific for parking is Hong Kong, where the average price is $748 (Australian $939).

However, parking price in Sydney are expected to sore even higher from this month.

The survey was carried out before the New South Wales government increased its parking space levy by dollar 87 a month on July 1 and found the City of London was the most expensive location to park a car in the world on a monthly basis at a average cost of $1020 (Australian $1,281), followed by London's West End at $955 (Australian $1,199) a month and Amsterdam at $805 (Australian $1,011). 

The US' most expensive area was Manhattan in New York, with a median monthly rate of $550 (Australian $690).

Surprisingly, it is also more expensive to secure a monthly car space in Sydney than it is in Tokyo, where it costs on average $525 (Australian $659) a month, or Zurich where the average is $515 (Australian $646).

Parking in Brisbane's CBD is not cheap either.

According to the Colliers survey, Brisbane is the seventh most expensive place in the world to park, at $660 a month.

In Perth's CBD, the median monthly cost of parking is Australian $645, and in Melbourne's CBD it is Australian $425.

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