2 out of 3 young adults living at home

I'm not sure how you getting the last part. If properties are being built and put on the rental market, how is this forcing up rents? You said earlier, that this might be because of monopolies or cartels, but where is the evidence of this?

I'm not sure you are understanding the question. Nobody is disputing that increased demand due to immigration is driving prices up or that HAP pushes up rents in certain cases.

The question is why you think increasing supply is pushing up rents. You would agree, no doubt, that the increasing supply of something generally has a downward effect on prices. Maybe not enough to counter other forces, but the general effect is downward.

I have googled ICAVs. Do you think they hold a monopoly on rented property in Ireland?

But if supply were not created in the non-RPZ areas, rents among the existing units also in the non-RPZ would be pushed even higher as the same number of people seeking to rent would be competing for a smaller number of properties. Therefor, sadly, I don't accept your reasoning.

The fact is, all new supply will tend to reduce prices or rents in the areas where that new supply is created. In non-RPZ areas, new units built to rent, whether by institutional or amateur landords will have tend to reduce rents or have a moderating effect on rent increases in those areas where they build.

I just think that institutional investors are likely to provide a better service from the tenant's perspective and should therefore be encouraged.

I can’t copy and paste for some reason but if your google “rent increases Dublin” you will see that new rentals rent rates are rising and due to non compliance in existing rentals, they are also rising above RPZ limits, Demand is still ahead of supply so institutional investors are pushing up rental costs.

No one disputes that not enough properties are being built, so that statement isn’t quite as intuitive as you thought it was when you typed it.

Given that central bank data shows there are low levels of BTL mortgages being drawn down, the only group capable of moving the market to the extent reported in Dublin in new lets are fund investors. When the ceiling is raised, those LLs who are non compliant, of which reported data indicate there are a lot, look at what is being charged in the market.

There is no competition amongst tenants, LL set rents knowing that there will be many applicants.

. Rising rents in first time lets set the bar for other landlords when they rent/rent review. Given the lack of compliance, a LL can look at a 2.5k apartment and think, that is what I should be charging. It’s not legal, but the data reported indicates rents are rising in existing rentals higher than RPZ legislation should allow.

There is no contradiction, if fewer properties are built, then funds can set prices higher know there will be fewer properties, and rents can be raised for those available.

Is there a surplus of available unoccupied rentals? It would appear there is still room for further increases.

If funds stop investing, as data from the third quarter of 2023 show they have, then rents will continue to rise, and new rentals set the bar because they are not restricted by RPZ legislation. Remember, developments which funds provided forward funding for in 2022 may not come to the market until late this year or next year, and those rents will be higher if there is still high demand, which shows no signs of abating.

Plus the cheaper end of the market where landlords are locked into lower rents is emptying out as their best option becomes leaving the business altogether.

another thread falling into the vanilla black hole....maybe this post will let it fall through to the other side.