A report published by the School of Real Estate at the Dublin Institute of Technology has called for a reform of the housing market in Ireland.
It describes the rental market as amateurish, a product of more than 70% of landlords owning 2 or less properties.
It calls on the government to facilitate greater private sector involvement by reducing support for home owner-occupiers.
The study, by Tom Dunne and Lorcan Sirr of the School of Real Estate at DIT says that block rental units can be commercially viable and aid growth in the housing market.
They say however that there is no one housing market and there is a need to cater for variations in national housing policy.
This would allow for a number of markets and sub-markets, each defined by locations, building type, condition and financial status.
The report finds that a lack of information on property market transactions which has impeded the operation of an efficient and equitable market and hindered its economic management.
It looks at New York, where yields on rent controlled residential investments are 2-3%, which is lower than yields on commercial investments.
Yields, it says, are a measure of risk: lower the yield, lower the risk, the higher the value of the investment. Residential investment can make money according to the reports' authors.
A private sector developer will normally require in the region of 30 residential units to make a development economically viable in the long-term, they say, ideally with the properties under the one roof, which means new ways of planning for buildings of these volumes.
The authors note that property booms are almost universally popular with banks, the public and governments.
There is no body or person in Ireland whose responsibility it is to moderate tendencies in the market that reinforce market upswings.
Changing levels of government support for home ownership will perforce, they say, direct people toward the private rented sector.
However, more than 70% of landlords in Ireland own two or less properties, and landlordism in Ireland is therefore at a very amateur state of development, and an issue arises as to how to make Irish landlords more professional.