Street parking rates in Reykjavík are about to rise, but the city’s parking rates are still comparatively lower than they are in other countries.
Morgunblaðið reports that the fee for parking on the street will rise from 150 ISK per hour to 250 ISK, if the proposal passes city council. This rates will apply from 9:00 to 18:00 on weekdays, and 9:00 to 16:00 on weekends. If passed, it will go into effect April 15.
Part of the justification for the rise is due to research pointed out in city council that the higher the parking fees, the less time people park their cars in a spot. The hope is for a greater turnover rate in parking spaces, to give more people the opportunity to use them.
It should also be pointed out that parking fees in Reykjavík have not changed since 2000, while bus fares have steadily increased from 150 ISK in 1999 to 350 ISK today.
Compared to other countries, Iceland would still have lower parking fees, even with the fee rise. Parking in Copenhagen costs about 619 ISK per hour; in Oslo, 677 ISK; and in Helsinki, 639 ISK.