My way of thinking is
1) It is an asset
2) You have control over it
Yeah, No on both counts.
Aircraft used to hold value / increase. But that was mainly in the period when the $A was devaluing. Don't expect an aircraft to hold value / be an asset any more.
You have control over who flies it and what upgrades you do. But the CASA system conspires to rob you of any real control over its maintenance - to the detriment of the asset value of your aircraft and safety.
I should add that I do own and aircraft and would not wish to fly IFR in rented aircraft. But the price of playing in this sandpit is high.