Delhi cheapest place to park, London most expensive

Delhi is the cheapest city in the world for parking while London has earned the dubious distinction of being the costliest place for the same, a study indicated on Wednesday.

In Delhi it costs less than a Pound (Rs 86.4) to park a car per day. The monthly rate for a space in London tops the list at 586 pounds - exactly double midtown New York, according to the first global study of parking charges.

Close behind is the West End, where monthly rates for motorists are 568 pounds. Daily parking follows a similar pattern, with the City costing 34 pounds followed by Amsterdam, the West End, Moscow and The Hague.

Australia has some of the most expensive cities in the world for parking as a result of its strong economy and surging currency. Sydney is the third most expensive city on a monthly basis at 387 pounds, while Brisbane and Perth make the top 10.

Regions such as Latin America, Africa and the Middle East are relatively inexpensive but are showing signs of car park inflation, which is becoming more structured.

However, global financial centres dominate the list, compiled by Colliers International, a property consultancy.

"Whether to park for a day or to have access to parking any time during the month, the world's top financial centers are among the most expensive in the world," the report said.