Calgary Ranks Number One for Priciest Parking

By Bizclik Editor


Colliers International announced today that Calgary is the second most expensive city to park in North America. According to Colliers International 11th Annual Parking Survey, Calgary’s median monthly unreserved parking rate rose 4.2 per cent in the past year.

At an average of $472.50, Calgary car owners pay more than double the national average which rates at $235.76. Following just behind New York City and its exhorbitant parking prices, Calgary beat out Boston and San Francisco for its number two spot.

Parking prices have risen not only in Calgary for the past year, but other cities as well. Out of the 12 major Canadian cities that were surveyed by Colliers, parking prices have risen in city downtowns.  Examples of this are Kitchener-Waterloo where drivers pay $128.24 or Vancouver whose parking reaches $287.98 both increasing parking rates around eight to ten per cent.



Click here to read the latest issue of Business Review Canada


Two cities that saw  a decline in parking, those lucky few, were Ottawa at $195—a decline of 6.6 per cent—and Toronto $332.38—a decline of 1.2 per cent.

“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,” says 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.”


Featured Articles

Top 10 easiest countries in the world to do business

Business Chief takes a look at the top 10 places in the world to do business, according to TMF Group's Global Business Complexity Index (GBCI) for 2023

Patagonia Chair Charles Conn on becoming an imperfectionist

Entrepreneur and Patagonia Chair Charles Conn talks to Business Chief about rethinking strategy amid uncertainty, and why an imperfectionist approach works

Top 10 most valuable brands in the world – Amazon to TikTok

Business Chief takes a look at the top 10 most valuable brands in the world, according to Brand Finance, which puts 5,000 major companies to the test

Four priorities for new Twitter CEO Linda Yaccarino

Leadership & Strategy

Top 10 shifts transforming organisations – McKinsey & Co

Leadership & Strategy

Top 10 fastest-growing jobs in the world according to WEF

Technology & AI