I'd say that would be fine in theory, if "retain its value" meant that housing would follow very closely but tailing local inflation. That won't happen though. As long as "housing needs to retain its value" ideology runs the country, housing will be viewed as an investment and scarcity will cause it to push inflation upwards. Even trying really hard to quell these prices it might beat inflation, and even if it were a success it would take decades of nominal-growth with negative-real-returns to bring those prices to parity with incomes.
So no, even if "technically maybe?" the answer is still no.