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That is for an apartment, not a full house of multiple storeys. If you have four storeys (counting the ground-floor), then interestingly the costs would be roughly on par. I am not sure, how many storeys the houses are supposed to have in Copenhagen.

Sure it is for an apartment, no matter the stories, it is a "living unit", the comparison is between 1 sqm of something that is covered by a roof, surrounded by walls, etc, and in which you can live and 1 sqm of asphalt/parking space.

There is NO market in the world AFAIK where 1 sqm is considered multi-storey, a house that is 100 sqm in plan and is 2 storeys is a 200 sqm one.

Sure, but the comment above is talking about "how valuable that space in major city centres is".

The opportunity cost of 1 sqm of street parking space is not 1 sqm of "living unit", but 1 sqm of land.

If 1 sqm of apartment is worth $7.5K/month, and average building height is 4 stories, that suggests 1 sqm of land is worth approximately 4 * 7.5 = $30K/month (minus value of the building).

Oww, come on, why stop at 4 storeys?

16 will be 4 times that.

My note was not about "opportunity cost", it was about the (extremely high) "rent" that a parking space at 5 US$/hour represents compared to its cost.

If you buy a 50-55 sqm apartment/flat/living unit in Copenhagen, you spend roughly 400,000 $, you can possibly rent it for 5%/year, i.e. around 20,000 $/year.

If you can manage to extort 5 $ /hour (for 12 hours/day) for a parking space which is 1/4th of area (and is not a building) you get more or less the same.

If the city charged you based on the value of the land you use, you'd go bankrupt after a picnic in the park. Cities offer plenty of things "for free" (payed by taxes and other sources of income) and you benefit from a lot of those also as pedestrian or cyclist. Drawing the line at drivers seems a bit self centered. I have the feeling you consider most of what you do to be worthy of gratuity. Bycicle lanes and parking still cost to build and maintain but you get them for no additional explicit cost. Ironically (car) road tax pays for some of that.

Oh my, that's shockingly cheap from my perspective.

In the downtown core of much of the east cost US, you're looking at $20+ for a minimum period of 3 hours. On the other hand, in my small city in the midwest during my adult life parking has gone from $.50/hour to $1.60/hour, and people have been outraged by each incremental increase.

Edit: noted that $20+ is often for multiple hours, but you regularly can't buy a single hour for $7, you're stuck paying a min of $20 upfront.

$20 an hour on the east coast? Where? The only place I can imagine that is in a parking garage, not on the street. Even the most congested parts of Manhattan that actually charge for parking don’t cost nearly that much, and that’s when they do actually charge for street storage.

Finding metered street parking in the most congested parts of Manhattan? I guess it's possible but wouldn't you waste more in gas circling all day?

>$20 an hour on the east coast?

Sounds pretty par for the course for a parking garage in an upscale part of Boston or DC with a minimum charge.

For convention centers, hospital clinics and other "people who have to come from far away must come directly here and they are likely to have a situation whereby public transit is impractical" type destinations $20 would be cheap.

I am referring to parking garages, apologies. My experiences are mostly NYC (Manhattan, midtown and lower) and Boston's back bay, though in fairness, many places are $25-$35 for multiple hours, which is much cheaper per hour, but pretty annoying if you only need the spot for 20 minutes.

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