Real estate prices are unlikely to drop too much since they're one of the few ways locals can maintain a store of value (if a relatively non-liquid one).
Sometimes you have to be very patient. The US real estate bubble took ~5 years to fully bottom out, although already in 2009 the prices were very good: https://fred.stlouisfed.org/series/CSUSHPINSA
Liquid assets already took a serious beating (see the REITs that I pointed out).