It will cost you more to park your car in London than anywhere else in the world, according to a report released today. The report, produced by property consultants Colliers International, is the first global analysis of parking costs, and puts London right at the top.

In particular, parking in the City of London is far higher than other financial centres. The cost for monthly parking in the City, the most expensive area, is $1,167 (€733, £586), and in the West End, the second highest, it’s $1,136. This is twice as much as New York’s midtown area, which is $585 per month, and Tokyo, at $552.

The City is also the most expensive for daily parking costs, at $68, followed by Amsterdam, London’s West End, Moscow and The Hague. Delhi is the cheapest city to park, at $1.75 per day.

Parking costs in Australian cities are among the highest, with Sydney being the third most expensive city worldwide at $775 per month. In all other global regions, such as Latin America, Africa and the Middle East, the relatively low cost of parking is sure to rise with growing demand and increasingly structured parking.

With the cost of parking being so high in London, drivers would do well to consider their other options, namely specialized parking companies which offer parking contracts. Among these, London’s parking company 24 7 offers significant savings on such contracts, making this option clearly the most advantageous one for any car-owner driving into London on a regular basis.

For press enquiries, please contact Peter Cooper on 020 7038 3970

Email: info@247parking.com

Web: www.247parking.com

News provided by 24 7 Parking Ltd, a leading marketing services provider to the car parking industry in the UK, and a leading de facto marketplace for buyers and sellers, or lessees and lessors, of car parking spaces.

24 7 Parking carries out daily surveys of the national media to provide up-to-date news and commentary on UK transport.