The only increase to supply will be the Funds. But they, if they re-enter the market at all, will only be interested in Dublin, and Cork to some extent.I agree, unless supply issues are addressed.
They will be building A rated top quality expensive product. A two bed apartment costs at least 500k to build in Dublin. Rents will be high and they will be extremely choosy about their tenants.
Supply will decline everywhere else. Landlords of my ilk (aged 60 plus) are leaving. We've had enough at this stage. Very few new young landlords will come in. Young people struggle to get a mortgage for their own home. None of them are thinking of a buy to let.
It does all come down to supply. If we had plenty of supply, landlords would be competing for tenants. That is what I spent my first two decades as a landlord doing up until 2015 or so.