Aren't high apartment prices ultimately due to significant inflation?

‌I understand that most apartments in Seoul are priced at 1.5 to 2 billion KRW or more.
First of all, they are extremely expensive. The barrier to entry is high.
However, even in major provincial cities, new constructions that seem decent are already approaching the 1 billion KRW mark,
and even in small provincial cities, good neighborhoods are recording prices in the 500-600 million KRW range.
Of course, under the same conditions, a Seoul apartment could cost 4 to 5 billion KRW.
The conclusion is
it seems like the cost of living has risen tremendously across the board.