We’ve all been there when playing Monopoly: you want the Boardwalk spot to gain the luxury and prestige – as well as the income – but whether or not you can afford it is a different story. Fortunately, with your New York car share service you won’t have to worry about paying for yearly Boardwalk parking. As one of the top 9 most expensive cities in the world in which to park, monthly rates can put car expenses through the roof.
New York’s million dollar parking spot just boosted parking spot prices even higher. Surprisingly, though, New York is the lowest on the list of most expensive places to park. After reading about these costly spots and cities, you’ll be thrilled to avoid annual parking fees in your New York car share service.
42 Crosby Street
Despite having the lowest parking rates on the list, New York now hosts some of the most expensive spots in the world. The condo development at 42 Crosby Street in SoHo will be home to 10 parking spots that will be as large as 200 square feet and with rates as exorbitant as $1 million. Each square foot of space will cost roughly $5,000 to $6,666. Despite the costly price tag, residents of the building won’t own their spots. Each spot will be licensed to the leasing resident for a period of 99 years, and they will be responsible for selling their spots in case of a move.
Each spot will be large enough to allow for storage and will offer electric charge stations. Landing on Boardwalk certainly comes with its perks!
Parking in New York
Parking in New York City is infamous for being tough to find, and pricey once you’ve found it. Residents of New York City have gotten used to parking and then walking several blocks to get to their destination, only to come back to a weighty parking fee. In fact, apps have been invented to solve this problem. PrimoSpot, Can I Park Here?, SpotHero, and BestParking.com will help any driver find the cheapest spot with the best location. When you use Carpingo’s New York car share service, download one of these apps to help find the most affordable spot for you.
Though you won’t have to worry about monthly parking with your New York car share service, you may be interested to see the extreme rates that car owners deal with in New York. Monthly rates in the city that never sleeps reach as high as an average of $538. Daily parking rates range up to an average of $40. Downloading the apps mentioned above will go a long way to reduce your daily parking rates when you use New York car share service.
Most expensive cities to park in
After hearing about those rates, it may be tough to believe that New York actually isn’t top of the list of most expensive cities in which to park. In fact, it’s at the bottom of the list of top 9. Also in the $500 range of parking is Brussels in Belgium at $555 monthly average. In 7th and 6th are two Australian cities – Perth at $568 a month, and Sydney at $596 a month.
Coming in at 5th on the list of expensive cities to park in is Zurich, Switzerland at $611 a month. Rome, Italy is only slightly higher than Zurich at $620 per month on average. Tokyo, Japan is the last city within the $600 price range and the first one in the Eastern hemisphere at $659 a month on average.
Second place on the list for most expensive cities to park in is Hong Kong at $751 a month. Compared to the $2100 average rent per month, adding another $751 is quite steep. By comparison, New York City seems affordable for your New York car share service.
And the winner is…
The most expensive city in the world to park in takes average monthly parking almost $200 higher than Hong Kong. Drumroll, please!
And London, England takes the cake with average monthly parking rates of $940.
London is known for its costly living expenses. Knightsbridge, an area of London, charges as much as 350,000 pounds per year for residential parking, which is roughly $600,000 USD. Added to the approximately 531 pound per week rent costs, this shows how expensive the capital of Britain has become.
Avoid the monthly parking traps and opt for New York car share services instead. Carpingo offers affordable and reliable New York care share service to help you navigate the Big Apple without breaking the budget.