Expensive parking fees

COMMENT

According to a recent report published in the German media, it appears that the fees charged for using parking facilities in the Greek capital are on average the third most expensive across Europe.

This particular survey result no doubt constitutes yet another Greek paradox, among so many others.

It is a paradox because it shows that Greek people who have observed their incomes shrinking over the last few years now find themselves paying a much higher price for such services than they did before the economic crisis started in Greece.

The same is true for the prices of a number of other goods and services.

It’s also rather odd because market prices are usually determined to a very large extent by the laws of supply and demand, and one would have expected demand to have dropped during the crisis.

In practice, however, it appears that Greece still has a high rate of private vehicle use, despite the ongoing crisis, and this high use of cars is accompanied by great demand for parking spaces across the capital.

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