How do Python properties work?

As others have noted, they use a language feature called descriptors.

The reason that the actual property object is returned when you access it via a class Foo.hello lies in how the property implements the __get__(self, instance, owner) special method:

• If a descriptor is accessed on an instance, then that instance is passed as the appropriate argument, and owner is the class of that instance.
• When it is accessed through the class, then instance is None and only owner is passed. The property object recognizes this and returns self.

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Besides the Descriptors howto, see also the documentation on Implementing Descriptors and Invoking Descriptors in the Language Guide.

In order for @properties to work properly the class needs to be a subclass of object. when the class is not a subclass of object then the first time you try access the setter it actually makes a new attribute with the shorter name instead of accessing through the setter.

The following does not work correctly.

class C(): # <-- Notice that object is missing

    def __init__(self):
        self._x = None

    @property
    def x(self):
        print 'getting value of x'
        return self._x

    @x.setter
    def x(self, x):
        print 'setting value of x'
        self._x = x

>>> c = C()
>>> c.x = 1
>>> print c.x, c._x
1 0

The following will work correctly

class C(object):

    def __init__(self):
        self._x = None

    @property
    def x(self):
        print 'getting value of x'
        return self._x

    @x.setter
    def x(self, x):
        print 'setting value of x'
        self._x = x

>>> c = C()
>>> c.x = 1
setting value of x
>>> print c.x, c._x
getting value of x
1 1