Hence, the objective of this paper is to assess the effectiveness of different economic instruments in steering urban residential sprawl – assessing property taxes, land taxes and public transport subsidies.
Awareness for this problem has fed the need for the implementation of effective policies against urban residential sprawl – a subject that has received considerable attention in literature, albeit little attention has been given to economic incentive instruments. The decrease in housing prices and commuting costs as well as the failure to internalize the real costs associated with natural land, led to households moving-out into the urban fringe – resulting in fragmented, low-density residential development patterns that has multiple negative impacts. One of the phenomena emerging from urbanization is urban sprawl, defined as the uncontrolled spread of cities into undeveloped areas. Over the past centuries, cities have undergone major transformations that led to global urbanization.
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