The origin is almost hilarious. Property comes from proper as in OK with the community. Are you properly dressed for the party? Property names objects that mark the status of a man of rank in the community A robe, a suit, a sword, a horse a bracelet a bride and later including now a car and a house and a yacht, In many primitive societies to violate the sanctions dress appropriately to rank was a crime.
Psychologically I think this is still true, and is a major part of the drive for consumer culture. Well, private property is defended, for example, against taxes, it slows down society's ability to change
The private part of private property is more subtle. Private comes from Latin, privatus, meaning to remove from the public. Not the removal;l from the person to the state, Soething removed from the public was considered (no modern equivalent?) as a dead thing. deprived of community and life. You see why I had to add subtle.
If we take capital, then division of land into separate plots, and private property we have a good model of why society moved from commonwealth to private fortune.