London 'has highest parking rates'

London has been rated the most expensive city in the world for medium-term parking charges.

The fourth edition of the Global Central Business District Parking Rate Survey, published by Colliers International, found that the capital has the highest monthly parking rates.

The City is the highest sub-market with a monthly rate of £657, followed by the West End at £615 a month.

The survey said: "London has consistently ranked as the most expensive parking garage market in the world by a significant margin - 25-35 per cent over the past four years.

"The intent of this survey is to provide corporate real estate executives with the relative cost of parking, both on a daily and monthly basis."

The annual global parking survey covers 156 central business areas.

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