what is the meaning of asset price

finding no attractive option to invest in any asset class - equities, bonds or real estate, i stumbled on a topic which i thought was very easy to understand -- "what does an asset price calculated in paper currency actually mean" - in absolute terms. i have no clue for the answer to this question

when a kilogram of rice sells for Rs 20 - it means crudely that Rs 20 meets the hunger requirement of a family of four for a day. when a share of a company trade at rs 100 it reflects the fundamental earning of the corporate - or atleast supposed to.
but what does a house selling for Rs 25 lakhs mean ? that it is equivalent to the five or ten year gross salary of the person buying it? while in absolute terms it will be difficult to evaluate the value of house , perhaps the relative method of valuing is also flawed, which may be one of the reasons for an asset price bubble in the sector.

if retail property in india peddles for a higher rate that prices in other cities like in europe , it a cause for concern. maybe people should sell their flats in mumbai and move to london - or maybe many would once they are permitted to do so by law.