Vancouver’s median monthly parking rate rose to $266.81 from $224 last year, keeping it among the top five most expensive places to park in the country.

Calgary remained the most expensive place to park a vehicle in Canada, although it’s parking rate fell 1.4% to $453.38 from $460. Toronto was the second most-expensive parking jurisdiction, with its rate increasing 10% to $336.25 from $305. Montreal ($280.62), and Edmonton ($275) were the only two top-five cities to not see a change in parking rates in the past year.

Parking rates in the Metro Vancouver region have risen in the past year, largely because of a tripling of TransLink’s parking tax that rose to 21% from 7% in January. Since July, parking has increased again due to HST.

Increases in Vancouver and Toronto contributed to an average 2% increase in monthly parking costs in Canada to $224.10 per month. The median daily rate in Canada also rose 2% to $14.83.

The report found that parking supply is not expected to rise substantially this year, with less than 4,000 new spaces expected in the U.S. and only 1,800 new spaces across Canada, over the next two years.

While parking costs continue to rise, Vancouver’s rates remain relatively low compared to some of the world’s most expensive cities to park. London remained the most expensive at $933 per month. Parking costs $744.72 per month in Hong Kong and $654 in Tokyo.

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