Street Parking or Garage: Price implications for parking globally
Insights from Parkopedia's 2019 Global Parking Index
- The most expensive city for 2-hour off-street parking is New York, at an average of $34.94;
- At an average cost of $14.61, Amsterdam is the most expensive city for 2-hour on-street parking, and is one of the few cities where 2-hour off-street parking is cheaper than 2-hour on-street parking;
- Londoners pay the most for both daily and monthly off-street parking;
- Australia is the most expensive country for daily parking in absolute terms; when adjusted for purchasing power, Hong Kong is the most expensive.
The 2019 report provides a update on parking at both a city and country level, data which was first analysed in Parkopedia’s 2017 report, and also includes street pricing for the first time. The report also looks at 25 key cities across the globe to understand the distribution of pricing, parking density and estimated yield within a city. Report highlights include:
Cost of 2 Hour Parking
Motorists will find cheaper parking on-street as opposed to off-street (e.g. parking garage) in most cities around the world. One of the few exceptions to this rule is Amsterdam, where off-street pricing is on average 24% cheaper, reflective of the city’s stated policy of making the centre increasingly car-free.
New York retains its position as the world’s most expensive city for short-term off-street parking, with Sydney following in second place, and the two cities maintain a clear price separation above other cities. London and Tokyo are the only non-US and non-Australian cities to make the top 10 list for off-street parking. Adjusting the prices for purchasing power parity results in a much greater proportion of the top 50 average off-street prices coming from cities outside of the USA and Australia.
Germany continues to have relatively cheap parking - as in 2017, the most expensive German city is Munich, ranked 88th globally.
Cost of Daily and Monthly Parking
The top 3 cities for daily parking in 2019 are London, New York and Sydney. Adjusting for purchasing power parity, Hong Kong, Moscow and Osaka break into the top 15 for daily prices.
London, New York and Zurich retain their accolades for having the world’s most expensive monthly parking. After purchasing power adjustment, 11 out of the top 15 cities come from Europe or Asia, including Amsterdam, Barcelona, Hong Kong, Paris, Seoul and Tokyo.
To receive the full report and ranking tables, please complete the form opposite.
For the North American 2019 Index showing the 50 most expensive cities for short-stay, daily and monthly paid parking, please click here.