This word doesn't suit to property especially prime location properties.

Last time, a terrace house only 30k, go up to 50k, thene 100k, then 200k, then 350k, then 500k, now 700k.
Wait 30 years also not going down.

I don't know why people keep on using fresh graduate wages as comparison.
A fresh graduate 10 years ago earned 2k, but he/she can improves and climb up the ladder, more skilled, experience, now can earn 5k, or 10k or even more.
So the person now can afford to buy a 500k properties already, so you have more 1 buyer coming out.
Prime location properties still remain the same supply, while you potentially have more demand due to more people can earn 10k, as well as rich become richer.
So that's why landed properties at prime location that has limited land space supply, always creep to the upside.
Only ocassionally economy recession, or previously properties market surge too much that can result in properties price plunge.

Fresh graduate wages just starting point only.

Last time, only top students manage to squeeze into Universities and get a degree, nowadays, as long as not poor enough and enough money, almost can get a degree already.
So for sure, supply become more, but quality wise is different story.

It is correcting due to previous surge too much, but to expect prime area like KLCC to drop back to 10-15 years ago price, is it possible?

Those area that has vast space to expand one, is not considered prime location properties.
But KL has vast space of vacant land or KLCC has vast space of unused land surrounding?

ok, I wait another 30 years, see the terrace house in KL will drop down to 30k level or not....
waiting.... waiting and waiting, for the word "what go up must go down".

I only know in Penang, fully furnished on a 600-700k condo, can only rent about Rm3k+.

Rm2.3K rental for a 180K condo? Wah, big lucrative deal.

The credit card stricter rules has nothing to do with property sector.
It intends to limit the damage that potential done on banking system as well as the bankruptcy rate is increasing at alarming rate.

Yes, for property sector, they need to limit the speculation activities, but the CC issue has nothing to do with this.

The 70% LV on third property has not been effective to curb down or cool down the speculation, but I personally do not agree on limit each person can have only 2 properties, this is overly.
Instead should set high booking fee needed, like at least 20-30%.
Some developers that introduce interest free scheme, 5/95 etc, is actually fuel the speculation. This has to be curbed.
The bottom line is every purchase needs to pay at least 20-30% initial booking fee, this is more effective to curb down speculation.