Just an anecdote, but in India this rate of growth is expected. People expect their property to fetch double returns in 3-5 years. My parents bought an apartment for ₹1.5M, we lived there for about 7 years and it sold for ~₹6M.
Me and my wife are planning to purchase our own now and we factor this growth expectation into our calculations.
So when prices stop being volatile, will you win or will you lose?
For those who think "real estate" is a sure bet to high returns, we've been there and done that before, even for emerging economies. If you really want to know, look at home rents vs. home purchase prices, those will never lie.
Average salary increase of 10% sounds like it somewhat answers what you were asking.
Here's another relevant tidbit:
https://www.livemint.com/Money/5wpK2P8H02D3ujDFYHzfBI/Number...
Anecdotally, in my company, an annual salary bump of just 10% is considered a punitive action.
Edit: looks like the wealthy are getting more wealthy and the poor are getting more wealthy, but not as much.