Annual survey shows Calgary, Toronto have highest parking rates

CALGARY (CP) - An annual survey by Colliers International indicates Calgary has the highest parking rates in Canada. The global real estate services company says on average, drivers in Alberta's biggest city are shelling out $350 a month to park their vehicles. That works out to an average of $20 a day.

Toronto is the second-most expensive city in which to park at $302 a month.

Montreal ranks third, followed by Vancouver and Ottawa.

The city with the cheapest monthly rate is Saskatoon at $124.55.

Colliers International says rates for monthly parking in Canada have increased 8.1 per cent over the last 12 months, while daily rates went up 7.4 per cent for the same period.

The company says the demand for parking spaces overall is exceeding supply across North America, which is expected to drive up costs even more over the next year.

© The Canadian Press, 2007