2011 | CBD PARKING RATES
GLOBAL | CENTRAL BUSINESS DISTRICT
PARKING RATE SURVEY
Parking Rates Broadly Up - Worldwide ROSS J. MOORE Chief Economist | USA
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225.04
293.93
297.62
400
342.12
600
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541.00
695.31
744.00
822.15
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Yumiko Yasuda Japan yumiko.yasuda@colliers.com
800
744.72
Nerida Conisbee Australia/New Zealand nerida.conisbee@colliers.com
1,083.59
1000
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Amit Oberoi India amit.oberoi@colliers.com
1200
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ASIA PACIFIC Simon Lo Asia simon.lo@colliers.com
GLOBAL FINANCIAL CENTERS – MONTHLY PARKING RATES
Zu ric h
Andreas Trumpp Germany andreas.trumpp@colliers.com
2011
Renaud Roger France rroger@colliers-ufgpm.fr
2010
Damian Harrington Central and Eastern Europe damian.harrington@colliers.com
most expensive parking garage market in the world by a significant margin—25-35 percent over the past four years. Due to a dramatic rise in the Swiss franc, Zurich moved into third position, replacing Hong Kong. Zurich monthly parking costs came in at $822.00 (700.00 CHF)—no change in local currency, but up over 36 percent in U.S. dollar terms. Interestingly, two Australian cities again made the top ten list; Perth at number seven and Sydney at number nine (Melbourne at 11 was just out of the top ten). The highest daily parking costs were dominated by European cities: Oslo in the global number-one spot at $89.04 (480.00 NOK), Copenhagen, London’s City and West End submarkets, Amsterdam, Vienna and Geneva all made the top ten list. Outside Europe, Sydney and Tokyo also ranked in the top ten. The cheapest city to park in is Jakarta, Indonesia at $0.92 for the day.
Leading the list of the most expensive places to park a vehicle is London: the City and West End submarkets again ranked number one and number two in the world. Monthly parking rates in the City (London’s financial district) topped the global list at $1,084.00 USD per month (₤657.00 GBP) followed by the West End at $1,014.00 USD (₤615.00 GBP). London has consistently ranked as the
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Mark Charlton United Kingdom mark.charlton@colliers.com
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EUROPE, MIDDLE EAST & AFRICA Thomas Grounds EMEA thomas.grounds@colliers.com
Lo nd on
AMERICAS Ross Moore USA ross.moore@colliers.com
Parking Rates – Median (USD)
GLOBAL RESEARCH CONTACTS
Be it for a day or a month, the cost of parking a car generally increased over the past 12 months. With the exception of the United States, all regions saw the price of parking go up. Among the top ten, no single region dominated in this year’s survey; North America, Europe, and Asia Pacific are represented by a broad mix of cities. The only region not represented is Latin America; however, almost all Latin American cities saw double digit increases for both daily and monthly parking.
CBD PARKING RATE SURVEY | 2011 | GLOBAL GLOBAL COMPARISON TOP 50 MONTHLY PARKING RATES* (USD) London – City London – West End Zurich Hong Kong Tokyo Rome Perth Geneva Sydney Oslo Melbourne Amsterdam Vienna Brisbane Copenhagen Stockholm New York – Midtown New York – Downtown Milan Birmingham Calgary, AB Boston, MA Manchester Moscow Athens Munich San Francisco, CA Brussels Antwerp Hamburg St. Petersburg Toronto, ON Leeds Paris Madrid Tel Aviv Prague Taipei Wellington Montreal, QC Philadelphia, PA Dublin Frankfurt Vancouver, BC Belgrade Seattle, WA Shanghai Adelaide Canberra Chicago, IL
1,083.59 1,014.32 822.15 744.72 744.00 718.90 717.43 704.70 695.31 612.15 598.39 586.62 575.12 568.89 567.13 546.41 541.00 533.00 517.61 496.44 486.34 438.00 428.82 420.58 388.21 375.27 375.00 373.83 359.45 359.45 357.00 342.12 341.41 323.51 322.07 320.10 316.98 313.20 309.05 304.89 303.63 301.94 297.62 296.42 295.02 294.00 293.93 290.77 289.71 289.00
*Monthly unreserved median rates
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| COLLIERS INTERNATIONAL
EUROPE/MIDDLE EAST/AFRICA PARKING RATE LOCAL CURRENCY MARKET Tirana Vienna Minsk Brussels Antwerp Sofia Zagreb Prague Copenhagen Cairo Tallinn Helsinki Paris Berlin Düsseldorf Frankfurt Hamburg Munich Stuttgart Athens Budapest Dublin Tel Aviv Milan Rome Riga Vilnius Podgorica Amsterdam Eindhoven Rotterdam The Hague Utrecht Belfast Oslo Warsaw Lisbon Bucharest St. Petersburg Moscow Belgrade Bratislava Capetown Johannesburg Sandton Pretoria Durban Madrid Stockholm Geneva Zurich Istanbul Kyiv Abu Dhabi Dubai Birmingham Bristol Edinburgh Glasgow Leeds London – West End London – City Manchester
COUNTRY Albania Austria Belarus Belgium Belgium Bulgaria Croatia Czech Republic Denmark Egypt Estonia Finland France Germany Germany Germany Germany Germany Germany Greece Hungary Ireland Israel Italy Italy Latvia Lithuania Montenegro Netherlands Netherlands Netherlands Netherlands Netherlands Nortnern Ireland Norway Poland Portugal Romania Russia Russia Serbia Slovakia South Africa South Africa South Africa South Africa South Africa Spain Sweden Switzerland Switzerland Turkey Ukraine United Arab Emirates United Arab Emirates United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom
DAILY 600.00 40.00 20,000.00 15.90 15.90 20.00 7.60 380.00 379.00 48.00 14.40 32.00 28.00 18.00 25.00 27.00 28.00 20.00 20.00 25.00 3,520.00 20.00 100.00 18.00 19.00 7.00 24.00 9.60 40.00 14.00 21.00 31.00 18.00 16.80 480.00 36.00 13.00 3.00 700.00 914.00 705.00 7.20 56.00 25.00 40.00 25.00 54.00 27.00 200.00 40.00 40 12.00 240.00 15.00 15.00 19.00 19.00 20.00 14.00 17.50 35.00 40.00 19.90
MONTHLY UNRESERVED 14,000.00 400.00 400,000.00 260.00 250.00 250.00 100.00 5,400.00 2,940.00 825.00 149.00 30.00 225.00 125.00 182.50 207.00 250.00 261.00 170.00 270.00 39,000.00 210.00 1,100.00 360.00 500.00 140.00 500.00 115.20 408.00 140.00 155.00 197.00 152.00 164.00 3,300.00 410.00 150.00 100.00 10,000.00 11,781.00 19,800.00 144.00 653.00 500.00 700.00 450.00 830.00 224.00 3,375.00 600.00 700.00 200.00 1,600.00 330.00 350.00 301.00 142.00 164.00 172.00 207.00 615.00 657.00 260.00
PARKING RATE USD QUOTED CURRENCY ALL EUR BYR EUR EUR BGN EUR CZK DKK EGP EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR HUF EUR ILS EUR EUR EUR LTL EUR EUR EUR EUR EUR EUR GBP NOK PLN EUR EUR RUB RUB RSD EUR ZAR ZAR ZAR ZAR ZAR EUR SEK CHF CHF TRY UAH AED AED GBP GBP GBP GBP GBP GBP GBP GBP
EXCHANGE RATE (JUNE 1, 2011) 0.01 1.44 0.0002 1.44 1.44 0.74 1.44 0.06 0.19 0.17 1.44 1.44 1.44 1.44 1.44 1.44 1.44 1.44 1.44 1.44 0.01 1.44 0.29 1.44 1.44 1.44 0.42 1.44 1.44 1.44 1.44 1.44 1.44 1.65 0.19 0.36 1.44 1.44 0.04 0.04 0.01 1.44 0.15 0.15 0.15 0.15 0.15 1.44 0.16 1.17 1.17 0.63 0.13 0.27 0.27 1.65 1.65 1.65 1.65 1.65 1.65 1.65 1.65
DAILY 6.18 57.51 4.00 22.86 22.86 14.70 10.93 22.31 73.11 8.12 20.70 46.01 40.26 25.88 35.95 38.82 40.26 28.76 28.76 35.95 19.01 28.76 29.10 25.88 27.32 10.06 10.00 13.80 57.51 20.13 30.19 44.57 25.88 27.71 89.04 13.07 18.69 4.31 24.99 32.63 10.50 10.35 8.15 3.64 5.82 3.64 7.86 38.82 32.38 46.98 46.98 7.52 30.43 4.08 4.08 31.34 31.34 32.99 23.09 28.86 57.73 65.97 32.82
MONTHLY UNRESERVED 144.20 575.12 80.00 373.83 359.45 183.80 143.78 316.98 567.13 139.51 214.23 43.13 323.51 179.73 262.40 297.62 359.45 375.27 244.43 388.21 210.60 301.94 320.10 517.61 718.90 201.29 208.25 165.63 586.62 201.29 222.86 283.25 218.55 270.49 612.15 148.87 215.67 143.78 357.00 420.58 295.02 207.04 95.08 72.80 101.92 65.52 120.85 322.07 546.41 704.70 822.15 125.26 202.88 89.10 94.50 496.44 234.20 270.49 283.68 341.41 1,014.32 1,083.59 428.82
ASIA PACIFIC PARKING RATE LOCAL CURRENCY MARKET Adelaide Brisbane Canberra Melbourne Perth Sydney Beijing Guangzhou Hong Kong Shanghai Bangalore Chennai Delhi Mumbai Jakarta Tokyo Auckland Wellington Manila Singapore Seoul Taipei Bangkok
COUNTRY Australia Australia Australia Australia Australia Australia China China China China India India India India Indonesia Japan New Zealand New Zealand Philippines Singapore South Korea Taiwan Thailand
DAILY 23.20 39.00 10.00 66.00 31.00 64.00 45.60 72.00 220.00 80.00 70.00 45.00 60.00 50.00 9,186.00 5,000.00 22.00 14.00 100.00 30.40 31,500.00 400.00 400.00
MONTHLY UNRESERVED 276.00 540.00 275.00 568.00 681.00 660.00 1,000.00 1,600.00 5,800.00 1,900.00 1,500.00 – 1,500.00 1,250.00 275,583.00 60,000.00 330.00 380.00 2,460.00 278.20 200,000.00 9,000.00 2,500.00
PARKING RATE USD QUOTED CURRENCY AUD AUD AUD AUD AUD AUD RMB RMB HKD RMB INR INR INR INR IDR JPY NZD NZD PHP SGD KRW TWD THB
EXCHANGE RATE (JUNE 1, 2011) 1.05 1.05 1.05 1.05 1.05 1.05 0.15 0.15 0.13 0.15 0.02 0.02 0.02 0.02 0.0001 0.0124 0.81 0.81 0.02 0.81 0.0009 0.03 0.03
DAILY 24.44 41.09 10.54 69.53 32.66 67.42 7.05 11.14 28.25 12.38 1.54 0.99 1.32 1.10 0.92 62.00 17.89 11.39 2.31 24.59 29.51 13.92 13.20
MONTHLY UNRESERVED 290.77 568.89 289.71 598.39 717.43 695.31 154.70 247.52 744.72 293.93 33.00 – 33.00 27.50 27.56 744.00 268.39 309.05 56.83 225.04 187.34 313.20 82.50
CBD PARKING RATE SURVEY | 2011 | GLOBAL NORTH AMERICA PARKING RATE LOCAL CURRENCY MARKET Calgary, AB Edmonton, AB Halifax, NS Kitchener-Waterloo, ON Montreal, QC Ottawa, ON Regina, SK Saskatoon, SK Toronto, ON Vancouver, BC Victoria, BC Winnipeg, MB Atlanta, GA Bakersfield, CA Bellevue, WA Boise, ID Boston, MA Charleston, SC Chicago, IL Cincinnati, OH Cleveland, OH Columbia, SC Columbus, OH Dallas, TX Denver, CO Fresno, CA Ft. Lauderdale, FL Greenville, SC Hartford, CT Honolulu, HI Houston, TX Indianapolis, IN Jacksonville, FL Kansas City, MO-KS Las Vegas, NV Little Rock, AR Los Angeles, CA Memphis, TN Miami, FL New Haven, CT New York – Downtown New York – Midtown Oakland, CA Omaha, NE Orlando, FL Philadelphia, PA Phoenix, AZ Portland, OR Raleigh, NC Reno, NV Sacramento, CA San Diego, CA San Francisco, CA San Jose/Silicon Valley, CA Savannah, GA Seattle, WA
St. Louis, MS Tampa, FL Walnut Creek, CA Washington, DC West Palm Beach, FL
COUNTRY Canada Canada Canada Canada Canada Canada Canada Canada Canada Canada Canada Canada United States United States United States United States United States United States United States United States United States United States United States United States United States United States United States United States United States United States United States United States United States United States United States United States United States United States United States United States United States United States United States United States United States United States United States United States United States United States United States United States United States United States United States United States United States United States United States United States United States
DAILY 25.00 18.00 14.00 12.00 18.00 15.00 10.00 9.50 23.00 20.00 13.50 9.00 12.00 8.00 17.26 12.00 34.00 10.00 32.00 10.00 8.50 10.00 10.00 10.25 16.00 9.00 15.00 6.00 19.00 38.00 14.50 12.00 8.56 10.88
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7.36 30.00 4.00 17.00 17.10 30.00 41.00 18.00 15.00 15.00 26.00 8.00 15.00 10.00
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15.00 26.00 26.00 15.00 10.00 24.00
12.00 11.00 8.00 18.00 16.00
MONTHLY UNRESERVED 472.50 275.00 166.75 128.24 296.21 195.00 168.00 170.00 332.38 287.98 184.80 152.25 95.00 55.00 180.00 80.00 438.00 120.00 289.00 160.00 140.00 65.00 110.00 85.00 175.00 60.00 78.00 69.70 201.12 217.28 153.00 120.00 101.65 90.61 65.00 66.17 209.50 57.00 125.00 137.00 533.00 541.00 192.50 67.50 80.00 303.63 50.00 185.00 100.00 45.00 155.00 170.00 375.00 100.00 80.00 294.00
90.00 125.00 60.00 260.00 56.00
PARKING RATE USD QUOTED CURRENCY CAD CAD CAD CAD CAD CAD CAD CAD CAD CAD CAD CAD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD
EXCHANGE RATE (JUNE 1, 2011) 1.03 1.03 1.03 1.03 1.03 1.03 1.03 1.03 1.03 1.03 1.03 1.03 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00
DAILY 25.73 18.53 14.41 12.35 18.53 15.44 10.29 9.78 23.67 20.59 13.90 9.26 12.00 8.00 17.26 12.00 34.00 10.00 32.00 10.00 8.50 10.00 10.00 10.25 16.00 9.00 15.00 6.00 19.00 38.00 14.50 12.00 8.56 10.88
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7.36 30.00 4.00 17.00 17.10 30.00 41.00 18.00 15.00 15.00 26.00 8.00 15.00 10.00
–
15.00 26.00 26.00 15.00 10.00 24.00
12.00 11.00 8.00 18.00 16.00
MONTHLY UNRESERVED 486.34 283.06 171.64 132.00 304.89 200.71 172.92 174.98 342.12 296.42 190.21 156.71 95.00 55.00 180.00 80.00 438.00 120.00 289.00 160.00 140.00 65.00 110.00 85.00 175.00 60.00 78.00 69.70 201.12 217.28 153.00 120.00 101.65 90.61 65.00 66.17 209.50 57.00 125.00 137.00 533.00 541.00 192.50 67.50 80.00 303.63 50.00 185.00 100.00 45.00 155.00 170.00 375.00 100.00 80.00 294.00
90.00 125.00 60.00 260.00 56.00
LATIN AMERICA PARKING RATE LOCAL CURRENCY
PARKING RATE USD
MARKET
COUNTRY
DAILY
MONTHLY UNRESERVED
QUOTED CURRENCY
Buenos Aires São Paulo Rio de Janeiro Santiago Bogotá San José Mexico City Panama City Lima
Argentina Brazil Brazil Chile Colombia Costa Rica Mexico Panama Peru
12.00 27.00 30.50 13.25 18,500.00 9.35 15.00 14.40 10.20
218.00 272.00 335.00 160.00 258,000.00 117.06 140.00 130.00 190.00
USD BRL BRL USD COP USD USD USD USD
EXCHANGE RATE (JUNE 1, 2011) 1.00 0.63 0.63 1.00 0.0006 1.00 1.00 1.00 1.00
DAILY 12.00 17.02 19.22 13.25 11.10 9.35 15.00 14.40 10.20
MONTHLY UNRESERVED 218.00 171.41 211.12 160.00 154.80 117.06 140.00 130.00 190.00
GLOBAL COMPARISON TOP 50 DAILY PARKING RATES* (USD) Oslo Copenhagen Melbourne Sydney London – City Tokyo London – West End Vienna Amsterdam Geneva Zurich Helsinki The Hague Brisbane
89.04 73.11 69.53 67.42 65.97 62.00 57.73 57.51 57.51 46.98 46.98 46.01 44.57 41.09
New York – Midtown Paris Hamburg Frankfurt Madrid Honolulu, HI Düsseldorf Athens Boston, MA Edinburgh Manchester Perth Moscow Stockholm Chicago, IL Birmingham Bristol Kyiv Rotterdam Los Angeles, CA New York – Downtown Seoul Tel Aviv Leeds Munich Stuttgart Dublin Hong Kong Belfast Rome Philadelphia, PA San Diego, CA San Francisco, CA Berlin Milan Utrecht
41.00 40.26 40.26 38.82 38.82 38.00 35.95 35.95 34.00 32.99 32.82 32.66 32.63 32.38 32.00 31.34 31.34 30.43 30.19 30.00 30.00 29.51 29.10 28.86 28.76 28.76 28.76 28.25 27.71 27.32 26.00 26.00 26.00 25.88 25.88 25.88
*Daily median rates
COLLIERS INTERNATIONAL |
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CBD PARKING RATE SURVEY | 2011 | GLOBAL
512 offices in 61 countries on 6 continents United States: 125 Canada: 38 Latin America: 18 Asia Pacific: 214 EMEA: 117 • $1.5
billion in annual revenue
million square feet under management
• 979
• Over
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FOR MORE INFORMATION Ross J. Moore Chief Economist | USA TEL +1 617 722 0221 EMAIL ross.moore@colliers.com
Methodology and Definitions Colliers International’s fourth annual global parking rate survey covers 156 central business districts (CBDs) from around the globe. The intent of this survey is to provide corporate real estate executives with the relative cost of parking, both on a daily and monthly basis. Readers will be able determine the relative cost to park a car both within countries and across borders. With data for 2008-2011, year-over-year pricing trends are now available and will be a feature of future reports. The survey methodology varies by country but in almost all cases, Colliers’ researchers have surveyed the majority of parking garages within their respective CBDs.
Survey only includes covered or underground parking garages located in prime CBDs. Parking rate data was collected during the month of June 2011 and includes all relevant taxes. Sources include third parties, owners/operators and Colliers International.
Copyright © 2011 Colliers International. The information contained herein has been obtained from sources deemed reliable. While every reasonable effort has been made to ensure its accuracy, we cannot guarantee it. No responsibility is assumed for any inaccuracies. Readers are encouraged to consult their professional advisors prior to acting on any of the material contained in this report.
Daily Parking – The customer is permitted to park for a full day and is not impacted by “early bird” restrictions. Unreserved Parking – The customer is guaranteed a space upon entry.
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