For many Sydney motorists the fact that their city has been ranked as the World’s fifth most expensive place for parking will come as no surprise. However most of them may not be aware that from last week a CBD car park just got even pricier.

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Livenews.com.au – Sydney CBD boasts some of world’s priciest parking

Author: AAP / Tuesday, 7^th July 2009 12.37 PM

Sydney’s CBD is one of the priciest places in the world to park a car, outranking Manhattan, Zurich and almost every city in the Asia Pacific.

The average cost of parking a car in Sydney’s CBD is $733 a month, making it the fifth most expensive city in the world, property researcher Colliers International’s annual parking rate survey has found.

The only more expensive city in the Asia Pacific for parking is Hong Kong, where the average price is $US748 ($A939).

And the price of parking in Sydney will be even higher from this month. The survey was carried out before the NSW government increased its parking space levy by $87 a month on July 1.

The survey 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 $US1,020 ($A1,281), followed by London’s West End at $US955 ($A1,199) a month and Amsterdam at $US805 ($A1,011).

America’s most expensive area was Manhattan in New York, with a median monthly rate of $US550 ($A690).

Surprisingly, it is also more expensive to secure a monthly car space in Sydney than it is in Tokyo, where it costs on average $US525 ($A659) a month, or Zurich where the average is $US515 ($A646).

Parking in Brisbane’s CBD is not cheap either.

According to the Colliers survey, Queensland’s capital 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 $645, and in Melbourne’s CBD it is $425.

Tags: Brisbane Car Park, Cost of Sydney Car Parks, Perth Car Park, Sydney Car Park, Sydney CBD Parking