It has been well publicised that supply in Dublin has increased dramatically over the last couple of months. This IrishTimes article claims we have an 86% increase in available properties.
Comparison of 2 bedroom flats under €2000 from February to now
Map from that thread showing the supply increase Apartments - https://imgur.com/xUObSsj
Prices still haven't significantly reduced to match the current supply. We have other pressure from people who have lost jobs, salary reductions etc.
There is likely to be a lag before we see a reduction across the board but it should come.
I think many of the Airbnb's that have come back onto the market recently, initially thought they would just make them available for 2-3 month short term rentals and then return to their illegal business after this is over but many of them are seeing the truth that this will likely last longer and even after restrictions lift it will be 6-12 months before confidence gets restored around the world in travel and in turn demand for Airbnb. I expect to see more of these being offered as full long term rentals as the penny drops. I laugh looking at some of them that have come onto the market as 2-3 month rentals at over market rate even before this mess. Some people live in an alternative reality.
I think the prices will drop as I know from talking to people who are looking at the moment that they are going in with offers for places well below asking and getting accepted.