Dr. Ronan Lyons:

I think smaller landlords may provide an even larger share.

It is important to view the market in terms of movers and stayers. The stayers have enjoyed significant protections but those unfortunate enough to be on the open market have borne the brunt. In the cases of Limerick and Galway, I believe open market rents are now three times what they were in 2011. Sitting tenants have seen a much smaller increase. Vacancy decontrol will reduce those inequalities a bit. It relates to how inflation is measured. When measuring inflation for sitting tenants, it will probably go up whereas for those on the open market it will probably go down.