TORONTO - Canadian drivers could soon feel more of a pinch from parking lot prices, according to a survey of parking rates around the world.

The survey, commissioned by real estate firm Colliers International, found that Canadian parking rates have climbed a modest two per cent over the past year -- with a median monthly rate of $224 and daily rates around $15.

But Colliers expects parking rates to continue to rise, especially toward the second half of 2011, because of limited supply of new parking spaces and increased demand linked to the economic recovery.

"We're seeing more activity in the economy .... and we anticipate that this could have an upward pressure on the monthly and daily parking rates going forward," said Wayne Duong, director of research with Colliers International in Canada, said Monday.

As the labour market improves, more and more people will get jobs and need to drive to work, raising demand for parking space in the downtown business core of many cities.

As well, an expected rebound in office tower leasing and lower commercial vacancy rates as the economy recovers will also boost demand for parking space, especially in underground parking garages.

Meanwhile, only 10 garages with 1,800 spots are expected to be added in Canada over the next two years, the company found from speaking with office building developers.

Calgary remains the most expensive Canadian city to park in, with monthly rates hovering around $453 followed by Toronto ($336.25) and Montreal ($280.62). Edmonton ($275) and Vancouver ($266.81) rounded out Canada's top five priciest cities for parking.

Calgary is most expensive because it has a very limited supply of spaces, poor public transit infrastructure, and most of the lots are owned by the city, which can drive prices up because there is little competition, Duong said.

Still, Canadian parking fees could be considered a bargain compared with some international cities.

London, England was the most expensive city in the world to park in, with a US$933 monthly price tag. Hong Kong, Tokyo, Zurich and Sydney are also among the top five priciest international cities for parking.

Data for the 2010 Parking Rate Survey was collected in June and includes covered or underground parking lots in prime central business districts.

Duong said the information will be used by Colliers clients, owners, developers and property managers, when deciding where to build.