CBD most expensive place to park in region: Report

The Central Business District (CBD) here is the most expensive place in South-east Asia to park a car, according to a report which looks at parking rates in global commercial areas.

It costs a driver an average daily rate of US$24.59 (S$30.40) to park his car in Singapore’s CBD – more than 20 times what his counterpart in Jakarta has to pay.

Parking in the Indonesian capital’s CBD costs an average of 92 US cents per day, the cheapest in South-east Asia, according to the Colliers International Parking Rate Survey, which examined 156 CBDs in June.

In a similar survey last year, the daily average rate for parking in Singapore’s CBD was US$21.53. Still, Singapore is not within the top 50 daily parking rates for CBDs around the world. The survey has Oslo in Norway as the priciest parking place at US$89.04 per day, followed by Copenhagen in Denmark at US$73.11 and Melbourne in Australia at US$69.53.

Colliers’ chief economist Ross Moore said: “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.”

Source : Today – 27 Jul 2011

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