3% of 1m is 30k so it's 2.5k a month.
ok, retirement plan fail

Property developers do own their assets actually, mostly commercial and offices due to higher yields and rental tenure compared to residential. The also structure REITs

Property and land prices over the long term will only yield the same returns as economic growth as both are interlinked. Property is a non-productive asset, it feeds on the growth of the economiy but does not feed into economic growth and development.

Develperes have done well in malaysia (at least until recently) largely due to Malaysia moving from a low to middle income economy. Most of the large gains by developers are from infrastructure impovement (highways) and rezoning of plantation areas to resi or commercial areas. We see much less of this now heydays of developers in malaysia because of this is limited (which is why Malaysian developers are going overseas). Afterall, property is about location and execution is more about not screwing up the end product.

Not sure where you got 150k for a DSL in 1990 but its in Klang valley it was about 220k+- and now about 850-900k median price. On an annual return basis over 27 years that only gives you a return of 5% p.a. which is inline with Malaysias nominal GDP growth. For comparison, FD gives you 3.2%, govt bond 3.9% (very low risk) and Buying the KLCI 12-15% p.a over the same period.  So long term property is a crap asset to hold.