Colliers’ 7th annual North America Parking Rate Survey indicates the cost to park continues to increase. This follows the same pattern as last year as parking owners and operators respond to a robust business climate and rising office occupancies to push parking rates higher. Daily rates, which are more a function of the general economy and consumer spending, however, did not increase as much as monthly rates suggesting the modest slowdown in retail sales and only moderate job gains had the effect of limiting higher short term parking rates. With the economy anticipated to improve, and only a small amount of new parking supply slated to come on-line, rates are expected to maintain their current trajectory with even higher levels expected next year.

To view the entire report please click on the PDF file below.


Contact John Arnoldi at 416-777-2200 for more information.

Parking Highlights 2007.pdf

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