Here's how I would do this:

class ClassPropertyDescriptor(object):

    def __init__(self, fget, fset=None):
        self.fget = fget
        self.fset = fset

    def __get__(self, obj, klass=None):
        if klass is None:
            klass = type(obj)
        return self.fget.__get__(obj, klass)()

    def __set__(self, obj, value):
        if not self.fset:
            raise AttributeError("can't set attribute")
        type_ = type(obj)
        return self.fset.__get__(obj, type_)(value)

    def setter(self, func):
        if not isinstance(func, (classmethod, staticmethod)):
            func = classmethod(func)
        self.fset = func
        return self

def classproperty(func):
    if not isinstance(func, (classmethod, staticmethod)):
        func = classmethod(func)

    return ClassPropertyDescriptor(func)


class Bar(object):

    _bar = 1

    @classproperty
    def bar(cls):
        return cls._bar

    @bar.setter
    def bar(cls, value):
        cls._bar = value


# test instance instantiation
foo = Bar()
assert foo.bar == 1

baz = Bar()
assert baz.bar == 1

# test static variable
baz.bar = 5
assert foo.bar == 5

# test setting variable on the class
Bar.bar = 50
assert baz.bar == 50
assert foo.bar == 50

The setter didn't work at the time we call Bar.bar, because we are calling TypeOfBar.bar.__set__, which is not Bar.bar.__set__.

Adding a metaclass definition solves this:

class ClassPropertyMetaClass(type):
    def __setattr__(self, key, value):
        if key in self.__dict__:
            obj = self.__dict__.get(key)
        if obj and type(obj) is ClassPropertyDescriptor:
            return obj.__set__(self, value)

        return super(ClassPropertyMetaClass, self).__setattr__(key, value)

# and update class define:
#     class Bar(object):
#        __metaclass__ = ClassPropertyMetaClass
#        _bar = 1

# and update ClassPropertyDescriptor.__set__
#    def __set__(self, obj, value):
#       if not self.fset:
#           raise AttributeError("can't set attribute")
#       if inspect.isclass(obj):
#           type_ = obj
#           obj = None
#       else:
#           type_ = type(obj)
#       return self.fset.__get__(obj, type_)(value)

Now all will be fine.

Other examples would be validation/filtering of the set attributes (forcing them to be in bounds or acceptable) and lazy evaluation of complex or rapidly changing terms.

Complex calculation hidden behind an attribute:

class PDB_Calculator(object):
    ...
    @property
    def protein_folding_angle(self):
        # number crunching, remote server calls, etc
        # all results in an angle set in 'some_angle'
        # It could also reference a cache, remote or otherwise,
        # that holds the latest value for this angle
        return some_angle

>>> f = PDB_Calculator()
>>> angle = f.protein_folding_angle
>>> angle
44.33276

Validation:

class Pedometer(object)
    ...
    @property
    def stride_length(self):
        return self._stride_length

    @stride_length.setter
    def stride_length(self, value):
        if value > 10:
            raise ValueError("This pedometer is based on the human stride - a stride length above 10m is not supported")
        else:
            self._stride_length = value