The cost of suspending a residential parking permit bay is currently £40 for the first week and £10 per week afterwards.
But a review will mean that residents or businesses will now be charged the same hourly rate as they would if they were parking a car in a pay-and-display space in the area.
It means that a resident in the New Town will now face a charge of £120 a week to suspend parking on one space. If they want to suspend the parking for four weeks the price will rise from £70 now to £480.
Councillor Gordon Mackenzie, the city’s transport leader, said: “Some people abuse the current system. Getting applicants to pay up front seems the most sensible and efficient way to provide this service.”