Johannesburg half-price. Weep if you’re in London – global survey
Cape Town is South Africa’s most expensive city for parking by a long-shot.
Monthly car parking in Cape Town and Johannesburg costs less than it did a year ago, but Cape Town remains the most expensive city in the country for monthly parking, says Colliers International.
According to its second annual parking report, which tracks the cost of parking across 140 global CBDs, it now costs R1077 ($132,19) for monthly car parking in Cape Town CBD compared with R1124 ($137,77) a year ago. The rate for Johannesburg is just over R580/month.
“While the median cost to park cars in Cape Town and Johannesburg has come down from a year ago, prices in Pretoria and Durban have risen in line with global trends,” said Sanett Uys, director of Colliers International.
She said it now costs R740 ($90,66) for monthly parking in Pretoria, up from R614 ($75,15) a year ago, and R661 ($80,96) for monthly parking in Durban, up from R562 ($68,88) a year ago. “While that upward shift may seem significant in the local market, spare a thought for Londoners,” she said. “They pay the most to park at an average R8324 ($1 020) per month, more than 10 times what Pretorians pay and almost eight times that of Capetonians.”
Said Uys: “The latest report found that, on average, monthly and daily parking rates are highest in the world’s top financial centres, with no one region dominating. Africa is one of three regions that are relatively inexpensive, but the general trend is to increase parking prices as demand holds steady despite the world’s financial woes.”
London city was the most expensive; London’s West End came in second at R7790 ($955,51), Amsterdam CBD third at R6563 ($805,36), Hong Kong fourth at R6097 ($748,20), and Sydney fifth at R4790 ($587,72).
Meanwhile, estate agents working the upmarket Atlantic Seaboard stretch of real estate in Cape Town report that residential parking continues to command high price tags. About 18 months ago, a small garage was sold for about R2m to a property owner tired of leaving his or her vehicle in the street near his Clifton beach pad. This week, Pam Golding Properties revealed that even parking bays in Clifton are in demand.
In a report for May and June, the estate agency said a bay in the Eventide complex sold for R580 000 and one in Whitecliffs went for for R750 000.
