Experts have raised concerns about rent hikes after it was revealed that nearly 3,000 homes were snapped up by big corporations last year.
The “cuckoo funds” spent more than €1.1bn which has hit a record high.
They are referred to as "cuckoo funds" because they buy the units before individual buyers have the opportunity to do so.
Rents in Dublin are predicted to go up a further 17% over the next few years, according to research from Savills.
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A total of 2,923 housing units were bought in “block purchases” last year- five times greater than in 2017, the Irish Independent reports.
Dr John McCartney, director of research at Savills, said: “Rising house prices and tight mortgage lending have driven a big shift from owner-occupation to private renting.
"This has led to strong rents and negligible vacancy - factors which are obviously attractive to investors."
And 11% of the overall homes bought were in Dubin.
Research also revealed that first-time buyers had less opportunities because of high house prices and tight lending rules.
Currently, nearly 27% of houses in Dublin rent privately, which is a 10.8% increase compared to last year.
