Property vs Equity Investment

If you only have money for one investment and enough for either, would you choose to venture into property or equity investment? This is one interesting question as property is deemed to be a rich man's investing game while most people could invest in equity for a small amount of money.

I currently owned a property in Indonesia (see picture below). Unlike property in Singapore where you may receive a net passive income every month after paying off the loans and interest from the bank, the interest in banks in Indonesia is very high (as much as 7.5% in my case). Having said that, the capital appreciation for the property I bought has since rocket northwards and it doesnt seem like stopping anytime soon.




Many people said to me that if i bought a property in Singapore, you are owning "a piece in the air" - assuming that it is a condominium, while for the very same price, you could easily get a couple of hard piece of land on the ground.

What do you guys think?