Property market is always an inflationary in nature due to the fact someone will come and buy, and that someone is real estate investors. Here, I see taking a piece of barren lands without any infrastructure sells for millions, many investors also buying agricultural lands and turning them into real estate empires, even the government does not intervene but happily issues them permits.
You are right about the salaries, it is super hard to save money after spending on routine stuff, the inflation has already devouring our savings and made it pretty impossible to even think of our own home.
I was looking at the cash needed to get a loan there and it was around 320K dollars - that is about 3 years full salary, before taxes and any expenses - going on the "save 10% rule" it would take 40 years to save the money....
Oh my goodness! 40 years to buy a place to live, if you start working at 25 years, add 40 years to it, 65 years, what life would you enjoy your home? It is totally frustrating.