I didn't get into tax treatment because I don't know Swiss tax rules. In the U.S., you pay the same capital gains on both a stock sale and house sale (and a per

I didn't get into tax treatment because I don't know Swiss tax rules. In the U.S., you pay the same capital gains on both a stock sale and house sale (and a personal residence sale may have the tax waived). You also get favorable tax treatment on a home, for instance, the mortgage interest tax deduction. If you buy a rental house, that is a tax deduction bonanza! Nearly everything is deductible. It's true the house depreciates. For a rental house, this depreciation is tax deductible. However, no real write-offs for a stock sale. In the U.S., there will be gains on real estate since the average real property appreciation rate is 5-10%, about the same for stocks. But, you must look at cash on cash. I buy a $500k house for $100k cash. You must calculate the stock return on the $100k. However, you calculate appreciation for real estate on the total value of the land and house. tldr: 5x appreciation on house vs. stock, with tax write-offs and no rent.