K-W sees highest parking rate increase in Canada

In the past year, Kitchener-Waterloo has experienced the highest parking rate increase in the country, according to the Colliers International Survey.

With an median monthly unreserved rate of just over $128 a month, K-W has seen a 9.7 percent increase.

Managing director of Colliers International in Waterloo Region, Karl Innanen, tells 570’s Gary Doyle Show, it’s all about supply and demand. He says, “I think it has more to do what’s happening in the downtown core, specifically in Kitchener, where there’s lots going on and there’s more people wanting to come down.”

Even with this huge spike, K-W is nowhere near the top of the list of pricey places to park.

That honour goes to Calgary with an monthly price of $472.50 a month and a 4.2 percent increase.

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