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    <link:label id="lab_ifrs-full_InterestExpense_label_en-US" xlink:label="lab_ifrs-full_InterestExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest expense</link:label>
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    <link:label id="lab_srt_HotelMember_label_en-US" xlink:label="lab_srt_HotelMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Hotel [Member]</link:label>
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    <link:label id="lab_ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_label_en-US" xlink:label="lab_ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Purchase of property, plant and equipment, classified as investing activities</link:label>
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    <link:label id="lab_bpy_DisclosureOfMajorComponentsOfTaxExpenseIncomeTableTextBlock_label_en-US" xlink:label="lab_bpy_DisclosureOfMajorComponentsOfTaxExpenseIncomeTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure Of Major Components Of Tax Expense (Income) [Table Text Block]</link:label>
    <link:label id="lab_bpy_DisclosureOfMajorComponentsOfTaxExpenseIncomeTableTextBlock_documentation_en-US" xlink:label="lab_bpy_DisclosureOfMajorComponentsOfTaxExpenseIncomeTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure Of Major Components Of Tax Expense (Income) [Table Text Block]</link:label>
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    <link:label id="lab_ifrs-full_ProportionOfOwnershipInterestsHeldByNoncontrollingInterests_019e3b4c-3a5a-753f-aa0d-d0ce59b3e479_terseLabel_en-US" xlink:label="lab_ifrs-full_ProportionOfOwnershipInterestsHeldByNoncontrollingInterests" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proportion of economic interests held by non-controlling interests</link:label>
    <link:label id="lab_ifrs-full_ProportionOfOwnershipInterestsHeldByNoncontrollingInterests_label_en-US" xlink:label="lab_ifrs-full_ProportionOfOwnershipInterestsHeldByNoncontrollingInterests" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proportion of ownership interests held by non-controlling interests</link:label>
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    <link:label id="lab_dei_EntityFileNumber_label_en-US" xlink:label="lab_dei_EntityFileNumber" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity File Number</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityFileNumber" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityFileNumber"/>
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    <link:label id="lab_ifrs-full_DisclosureOfBusinessCombinationsLineItems_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfBusinessCombinationsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about business combination [line items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfBusinessCombinationsLineItems" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfBusinessCombinationsLineItems"/>
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    <link:label id="lab_bpy_ShareCapitalReservesAndOtherEquityInterestAbstract_019e3b4c-3ae9-7d49-8616-2b6a16a31716_terseLabel_en-US" xlink:label="lab_bpy_ShareCapitalReservesAndOtherEquityInterestAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share Capital, Reserves And Other Equity Interest [Abstract]</link:label>
    <link:label id="lab_bpy_ShareCapitalReservesAndOtherEquityInterestAbstract_label_en-US" xlink:label="lab_bpy_ShareCapitalReservesAndOtherEquityInterestAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share Capital, Reserves And Other Equity Interest [Abstract]</link:label>
    <link:label id="lab_bpy_ShareCapitalReservesAndOtherEquityInterestAbstract_documentation_en-US" xlink:label="lab_bpy_ShareCapitalReservesAndOtherEquityInterestAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Share Capital, Reserves And Other Equity Interest</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_ShareCapitalReservesAndOtherEquityInterestAbstract" xlink:href="bpy-20260630.xsd#bpy_ShareCapitalReservesAndOtherEquityInterestAbstract"/>
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    <link:label id="lab_bpy_PropertySpecificObligationsRelatedPartyTransactions_019e3b4c-3ae9-740e-a80b-9ed814e4a593_negatedTerseLabel_en-US" xlink:label="lab_bpy_PropertySpecificObligationsRelatedPartyTransactions" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Property-specific obligations</link:label>
    <link:label id="lab_bpy_PropertySpecificObligationsRelatedPartyTransactions_label_en-US" xlink:label="lab_bpy_PropertySpecificObligationsRelatedPartyTransactions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property Specific Obligations, Related Party Transactions</link:label>
    <link:label id="lab_bpy_PropertySpecificObligationsRelatedPartyTransactions_documentation_en-US" xlink:label="lab_bpy_PropertySpecificObligationsRelatedPartyTransactions" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Property Specific Obligations, Related Party Transactions</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_PropertySpecificObligationsRelatedPartyTransactions" xlink:href="bpy-20260630.xsd#bpy_PropertySpecificObligationsRelatedPartyTransactions"/>
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    <link:label id="lab_ifrs-full_DeferredTaxExpenseIncome_019e3b4c-3ae9-7e8d-aa1f-0f5677d8a8e2_terseLabel_en-US" xlink:label="lab_ifrs-full_DeferredTaxExpenseIncome" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred income tax</link:label>
    <link:label id="lab_ifrs-full_DeferredTaxExpenseIncome_label_en-US" xlink:label="lab_ifrs-full_DeferredTaxExpenseIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred tax expense (income)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DeferredTaxExpenseIncome" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DeferredTaxExpenseIncome"/>
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    <link:label id="lab_ifrs-full_DisclosureOfDetailedInformationAboutIntangibleAssetsExplanatory_019e3b4c-3ae9-7515-adbe-55584b26bc2d_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfDetailedInformationAboutIntangibleAssetsExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Detailed Information about Intangible Assets</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfDetailedInformationAboutIntangibleAssetsExplanatory_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfDetailedInformationAboutIntangibleAssetsExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about intangible assets [text block]</link:label>
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    <link:label id="lab_ifrs-full_LevelsOfFairValueHierarchyDomain_label_en-US" xlink:label="lab_ifrs-full_LevelsOfFairValueHierarchyDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Levels of fair value hierarchy [domain]</link:label>
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    <link:label id="lab_bpy_PreferredStockRedemptionAmount1_019e3b4c-398b-737e-a662-153144ec9b8a_terseLabel_en-US" xlink:label="lab_bpy_PreferredStockRedemptionAmount1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Redemption amount</link:label>
    <link:label id="lab_bpy_PreferredStockRedemptionAmount1_label_en-US" xlink:label="lab_bpy_PreferredStockRedemptionAmount1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Stock, Redemption Amount1</link:label>
    <link:label id="lab_bpy_PreferredStockRedemptionAmount1_documentation_en-US" xlink:label="lab_bpy_PreferredStockRedemptionAmount1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Preferred Stock, Redemption Amount1</link:label>
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    <link:label id="lab_bpy_RelatedPartyAbstract_019e3b4c-3a5a-7c3f-866e-aa0220ff6610_terseLabel_en-US" xlink:label="lab_bpy_RelatedPartyAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Related Party [Abstract]</link:label>
    <link:label id="lab_bpy_RelatedPartyAbstract_label_en-US" xlink:label="lab_bpy_RelatedPartyAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party [Abstract]</link:label>
    <link:label id="lab_bpy_RelatedPartyAbstract_documentation_en-US" xlink:label="lab_bpy_RelatedPartyAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Related Party</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember"/>
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    <link:label id="lab_ifrs-full_StatementOfFinancialPositionAbstract_label_en-US" xlink:label="lab_ifrs-full_StatementOfFinancialPositionAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of financial position [abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_StatementOfFinancialPositionAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_StatementOfFinancialPositionAbstract"/>
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    <link:label id="lab_currency_AED_019e3b4c-3a5a-794c-b56a-da84ef306fd8_terseLabel_en-US" xlink:label="lab_currency_AED" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">United Arab Emirates Dirham</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_bpy_GainsLossesRecognisedInProfitOrLossAndOtherComprehensiveIncomeFairValueMeasurementLiabilities" xlink:href="bpy-20260630.xsd#bpy_GainsLossesRecognisedInProfitOrLossAndOtherComprehensiveIncomeFairValueMeasurementLiabilities"/>
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    <link:label id="lab_ifrs-full_PaymentsToAcquireOrRedeemEntitysShares_019e3b4c-398b-72d6-a3f3-4ffa38e41e29_negatedTerseLabel_en-US" xlink:label="lab_ifrs-full_PaymentsToAcquireOrRedeemEntitysShares" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Redemption of FV LTIP units of the Operating Partnership</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_PaymentsToAcquireOrRedeemEntitysShares" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_PaymentsToAcquireOrRedeemEntitysShares"/>
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    <link:label id="lab_bpy_TypesOfDerivativesDomain_label_en-US" xlink:label="lab_bpy_TypesOfDerivativesDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Types of Derivatives [Domain]</link:label>
    <link:label id="lab_bpy_TypesOfDerivativesDomain_documentation_en-US" xlink:label="lab_bpy_TypesOfDerivativesDomain" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Types of Derivatives [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_TypesOfDerivativesDomain" xlink:href="bpy-20260630.xsd#bpy_TypesOfDerivativesDomain"/>
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    <link:label id="lab_bpy_OtherNoncurrentFinancialLiabilitiesMember_019e3b4c-3ae9-7f05-985a-c8d7f10ee878_terseLabel_en-US" xlink:label="lab_bpy_OtherNoncurrentFinancialLiabilitiesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other non-current liabilities</link:label>
    <link:label id="lab_bpy_OtherNoncurrentFinancialLiabilitiesMember_label_en-US" xlink:label="lab_bpy_OtherNoncurrentFinancialLiabilitiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Noncurrent Financial Liabilities [Member]</link:label>
    <link:label id="lab_bpy_OtherNoncurrentFinancialLiabilitiesMember_documentation_en-US" xlink:label="lab_bpy_OtherNoncurrentFinancialLiabilitiesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other Noncurrent Financial Liabilities [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_OtherNoncurrentFinancialLiabilitiesMember" xlink:href="bpy-20260630.xsd#bpy_OtherNoncurrentFinancialLiabilitiesMember"/>
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    <link:label id="lab_bpy_AccumulatedRevaluationAndImpairmentIncludingNettingMember_label_en-US" xlink:label="lab_bpy_AccumulatedRevaluationAndImpairmentIncludingNettingMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accumulated Revaluation And Impairment, Including Netting [Member]</link:label>
    <link:label id="lab_bpy_AccumulatedRevaluationAndImpairmentIncludingNettingMember_documentation_en-US" xlink:label="lab_bpy_AccumulatedRevaluationAndImpairmentIncludingNettingMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Accumulated Revaluation And Impairment, Including Netting</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_AccumulatedRevaluationAndImpairmentIncludingNettingMember" xlink:href="bpy-20260630.xsd#bpy_AccumulatedRevaluationAndImpairmentIncludingNettingMember"/>
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    <link:label id="lab_ifrs-full_ReconciliationOfChangesInInvestmentPropertyAbstract_019e3b4c-398c-7f24-9426-b3a5bb1e1fbd_terseLabel_en-US" xlink:label="lab_ifrs-full_ReconciliationOfChangesInInvestmentPropertyAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Reconciliation of changes in investment property [abstract]</link:label>
    <link:label id="lab_ifrs-full_ReconciliationOfChangesInInvestmentPropertyAbstract_label_en-US" xlink:label="lab_ifrs-full_ReconciliationOfChangesInInvestmentPropertyAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reconciliation of changes in investment property [abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ReconciliationOfChangesInInvestmentPropertyAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ReconciliationOfChangesInInvestmentPropertyAbstract"/>
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    <link:label id="lab_bpy_DepreciationAndAmortizationExpenseRealEstateAssets_019e3b4c-3a5a-7902-8f92-4c8aa05a506d_negatedTerseLabel_en-US" xlink:label="lab_bpy_DepreciationAndAmortizationExpenseRealEstateAssets" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Depreciation and amortization of real estate assets</link:label>
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    <link:label id="lab_bpy_DepreciationAndAmortizationExpenseRealEstateAssets_documentation_en-US" xlink:label="lab_bpy_DepreciationAndAmortizationExpenseRealEstateAssets" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Depreciation And Amortization Expense, Real Estate Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_DepreciationAndAmortizationExpenseRealEstateAssets" xlink:href="bpy-20260630.xsd#bpy_DepreciationAndAmortizationExpenseRealEstateAssets"/>
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    <link:label id="lab_bpy_UnitedKingdomPoundsToEuroHedgeMember_label_en-US" xlink:label="lab_bpy_UnitedKingdomPoundsToEuroHedgeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">United Kingdom Pounds to Euro Hedge [Member]</link:label>
    <link:label id="lab_bpy_UnitedKingdomPoundsToEuroHedgeMember_documentation_en-US" xlink:label="lab_bpy_UnitedKingdomPoundsToEuroHedgeMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">United Kingdom Pounds to Euro Hedge</link:label>
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    <link:label id="lab_bpy_DisclosureofStockholdersEquityAndEarningsPerShareTextBlock_019e3b4c-3a5a-723b-b594-a9de3ac8fdb8_terseLabel_en-US" xlink:label="lab_bpy_DisclosureofStockholdersEquityAndEarningsPerShareTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">EQUITY</link:label>
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    <link:label id="lab_ifrs-full_DirectOperatingExpenseFromInvestmentPropertyGeneratingRentalIncome_019e3b4c-3ae9-7824-a55e-7a7c73d5cb4a_terseLabel_en-US" xlink:label="lab_ifrs-full_DirectOperatingExpenseFromInvestmentPropertyGeneratingRentalIncome" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Direct commercial property expense</link:label>
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    <link:label id="lab_ifrs-full_CurrentLiabilitiesOtherThanLiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale_019e3b4c-3ae9-72da-9410-4e015337b416_totalLabel_en-US" xlink:label="lab_ifrs-full_CurrentLiabilitiesOtherThanLiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total current liabilities</link:label>
    <link:label id="lab_ifrs-full_CurrentLiabilitiesOtherThanLiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale_label_en-US" xlink:label="lab_ifrs-full_CurrentLiabilitiesOtherThanLiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current liabilities other than liabilities included in disposal groups classified as held for sale</link:label>
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    <link:label id="lab_bpy_BorrowingsAmortizationOfDeferredFinancingCostsAndPremiumDiscounts_documentation_en-US" xlink:label="lab_bpy_BorrowingsAmortizationOfDeferredFinancingCostsAndPremiumDiscounts" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Borrowings, Amortization Of Deferred Financing Costs And (Premium) Discounts</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_BorrowingsAmortizationOfDeferredFinancingCostsAndPremiumDiscounts" xlink:href="bpy-20260630.xsd#bpy_BorrowingsAmortizationOfDeferredFinancingCostsAndPremiumDiscounts"/>
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    <link:label id="lab_bpy_ScheduleofPartnershipUnitsTable_label_en-US" xlink:label="lab_bpy_ScheduleofPartnershipUnitsTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Partnership Units [Table]</link:label>
    <link:label id="lab_bpy_ScheduleofPartnershipUnitsTable_documentation_en-US" xlink:label="lab_bpy_ScheduleofPartnershipUnitsTable" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Schedule of Partnership Units</link:label>
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    <link:label id="lab_ifrs-full_SalesFairValueMeasurementLiabilities_019e3b4c-3a5a-7d28-add3-f011e3e61cdc_negatedTerseLabel_en-US" xlink:label="lab_ifrs-full_SalesFairValueMeasurementLiabilities" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Dispositions</link:label>
    <link:label id="lab_ifrs-full_SalesFairValueMeasurementLiabilities_label_en-US" xlink:label="lab_ifrs-full_SalesFairValueMeasurementLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sales, fair value measurement, liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_SalesFairValueMeasurementLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_SalesFairValueMeasurementLiabilities"/>
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    <link:label id="lab_bpy_AccumulatedRevaluationAndImpairmentMember_label_en-US" xlink:label="lab_bpy_AccumulatedRevaluationAndImpairmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accumulated Revaluation And Impairment [Member]</link:label>
    <link:label id="lab_bpy_AccumulatedRevaluationAndImpairmentMember_documentation_en-US" xlink:label="lab_bpy_AccumulatedRevaluationAndImpairmentMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Accumulated Revaluation And Impairment [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_AccumulatedRevaluationAndImpairmentMember" xlink:href="bpy-20260630.xsd#bpy_AccumulatedRevaluationAndImpairmentMember"/>
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    <link:label id="lab_bpy_ReconciliationOfChangesInInvestmentsRollForward_label_en-US" xlink:label="lab_bpy_ReconciliationOfChangesInInvestmentsRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reconciliation Of Changes In Investments [Roll Forward]</link:label>
    <link:label id="lab_bpy_ReconciliationOfChangesInInvestmentsRollForward_documentation_en-US" xlink:label="lab_bpy_ReconciliationOfChangesInInvestmentsRollForward" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Reconciliation Of Changes In Investments</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_ReconciliationOfChangesInInvestmentsRollForward" xlink:href="bpy-20260630.xsd#bpy_ReconciliationOfChangesInInvestmentsRollForward"/>
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    <link:label id="lab_ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract_019e3b4c-398b-7520-8c57-8dd1603c27c1_terseLabel_en-US" xlink:label="lab_ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Financing activities</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract"/>
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    <link:label id="lab_ifrs-full_DisclosureOfSignificantUnobservableInputsUsedInFairValueMeasurementOfAssetsTable_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfSignificantUnobservableInputsUsedInFairValueMeasurementOfAssetsTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of significant unobservable inputs used in fair value measurement of assets [table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfSignificantUnobservableInputsUsedInFairValueMeasurementOfAssetsTable" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfSignificantUnobservableInputsUsedInFairValueMeasurementOfAssetsTable"/>
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    <link:label id="lab_bpy_BorrowingsAssumedByPurchaser_019e3b4c-3ae9-7580-9a1b-98652237a9bb_negatedTerseLabel_en-US" xlink:label="lab_bpy_BorrowingsAssumedByPurchaser" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Assumed by purchaser</link:label>
    <link:label id="lab_bpy_BorrowingsAssumedByPurchaser_label_en-US" xlink:label="lab_bpy_BorrowingsAssumedByPurchaser" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Borrowings, Assumed by Purchaser</link:label>
    <link:label id="lab_bpy_BorrowingsAssumedByPurchaser_documentation_en-US" xlink:label="lab_bpy_BorrowingsAssumedByPurchaser" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Borrowings, Assumed by Purchaser</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_BorrowingsAssumedByPurchaser" xlink:href="bpy-20260630.xsd#bpy_BorrowingsAssumedByPurchaser"/>
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    <link:label id="lab_ifrs-full_ComprehensiveIncome_019e3b4c-3a5a-76ed-ad13-dd5c9f375e90_totalLabel_en-US" xlink:label="lab_ifrs-full_ComprehensiveIncome" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total comprehensive income (loss)</link:label>
    <link:label id="lab_ifrs-full_ComprehensiveIncome_label_en-US" xlink:label="lab_ifrs-full_ComprehensiveIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Comprehensive income</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ComprehensiveIncome" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ComprehensiveIncome"/>
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    <link:label id="lab_bpy_BSREPIIBrazilOfficePreferredSharesMember_019f645e-1739-76a2-9458-12b647f5a11f_terseLabel_en-US" xlink:label="lab_bpy_BSREPIIBrazilOfficePreferredSharesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">BSREP II Brazil Office Preferred Shares</link:label>
    <link:label id="lab_bpy_BSREPIIBrazilOfficePreferredSharesMember_label_en-US" xlink:label="lab_bpy_BSREPIIBrazilOfficePreferredSharesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">BSREP II Brazil Office Preferred Shares [Member]</link:label>
    <link:label id="lab_bpy_BSREPIIBrazilOfficePreferredSharesMember_documentation_en-US" xlink:label="lab_bpy_BSREPIIBrazilOfficePreferredSharesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">BSREP II Brazil Office Preferred Shares</link:label>
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    <link:label id="lab_bpy_SeriesThreeClassAPreferredEquityUnitsMember_019e3b4c-3ae9-7c4e-994f-351ed9c7bdb3_terseLabel_en-US" xlink:label="lab_bpy_SeriesThreeClassAPreferredEquityUnitsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Series 3, Class A Preferred Equity Units</link:label>
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    <link:label id="lab_bpy_SeriesThreeClassAPreferredEquityUnitsMember_documentation_en-US" xlink:label="lab_bpy_SeriesThreeClassAPreferredEquityUnitsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Series Three, Class A Preferred Equity Units [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_SeriesThreeClassAPreferredEquityUnitsMember" xlink:href="bpy-20260630.xsd#bpy_SeriesThreeClassAPreferredEquityUnitsMember"/>
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    <link:label id="lab_bpy_OtherNoncontrollingInterestsInterestsInSubsidiariesAndProperties_019e3b4c-3ae9-77b5-a912-bd1797e6b3cd_terseLabel_en-US" xlink:label="lab_bpy_OtherNoncontrollingInterestsInterestsInSubsidiariesAndProperties" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-controlling interests in subsidiaries and properties</link:label>
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    <link:label id="lab_bpy_OtherNoncontrollingInterestsInterestsInSubsidiariesAndProperties_documentation_en-US" xlink:label="lab_bpy_OtherNoncontrollingInterestsInterestsInSubsidiariesAndProperties" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other Noncontrolling Interests, Interests In Subsidiaries And Properties</link:label>
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    <link:label id="lab_bpy_EuroToSwedishKroneHedgeMember_documentation_en-US" xlink:label="lab_bpy_EuroToSwedishKroneHedgeMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Euro to Swedish Krone Hedge</link:label>
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    <link:label id="lab_bpy_OtherComprehensiveIncomeLossPortionAttributableToNoncontrollingInterestLimitedPartnershipsRedeemable_019e3b4c-3a5a-770a-9352-78384f4a8129_terseLabel_en-US" xlink:label="lab_bpy_OtherComprehensiveIncomeLossPortionAttributableToNoncontrollingInterestLimitedPartnershipsRedeemable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other comprehensive income (loss)</link:label>
    <link:label id="lab_bpy_OtherComprehensiveIncomeLossPortionAttributableToNoncontrollingInterestLimitedPartnershipsRedeemable_label_en-US" xlink:label="lab_bpy_OtherComprehensiveIncomeLossPortionAttributableToNoncontrollingInterestLimitedPartnershipsRedeemable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Comprehensive Income (Loss), Portion Attributable To Noncontrolling Interest, Limited Partnerships, Redeemable</link:label>
    <link:label id="lab_bpy_OtherComprehensiveIncomeLossPortionAttributableToNoncontrollingInterestLimitedPartnershipsRedeemable_documentation_en-US" xlink:label="lab_bpy_OtherComprehensiveIncomeLossPortionAttributableToNoncontrollingInterestLimitedPartnershipsRedeemable" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other Comprehensive Income (Loss), Portion Attributable To Noncontrolling Interest, Limited Partnerships, Redeemable</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_OtherComprehensiveIncomeLossPortionAttributableToNoncontrollingInterestLimitedPartnershipsRedeemable" xlink:href="bpy-20260630.xsd#bpy_OtherComprehensiveIncomeLossPortionAttributableToNoncontrollingInterestLimitedPartnershipsRedeemable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_OtherComprehensiveIncomeLossPortionAttributableToNoncontrollingInterestLimitedPartnershipsRedeemable" xlink:to="lab_bpy_OtherComprehensiveIncomeLossPortionAttributableToNoncontrollingInterestLimitedPartnershipsRedeemable" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_DocumentFiscalPeriodFocus_019e3b4c-3ae9-7b17-8781-ab6830314198_terseLabel_en-US" xlink:label="lab_dei_DocumentFiscalPeriodFocus" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Fiscal Period Focus</link:label>
    <link:label id="lab_dei_DocumentFiscalPeriodFocus_label_en-US" xlink:label="lab_dei_DocumentFiscalPeriodFocus" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Fiscal Period Focus</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentFiscalPeriodFocus" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_DocumentFiscalPeriodFocus"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentFiscalPeriodFocus" xlink:to="lab_dei_DocumentFiscalPeriodFocus" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_RelatedPartiesMember_019e3b4c-3ae9-79c8-8a28-2bca01cf5be4_terseLabel_en-US" xlink:label="lab_ifrs-full_RelatedPartiesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total for all related parties</link:label>
    <link:label id="lab_ifrs-full_RelatedPartiesMember_label_en-US" xlink:label="lab_ifrs-full_RelatedPartiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Total for all related parties [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_RelatedPartiesMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_RelatedPartiesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_RelatedPartiesMember" xlink:to="lab_ifrs-full_RelatedPartiesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_Assets_019e3b4c-3a5a-7246-b5c6-ac887d0b8799_totalLabel_en-US" xlink:label="lab_ifrs-full_Assets" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total assets</link:label>
    <link:label id="lab_ifrs-full_Assets_019e3b4c-3a5a-7773-9cc7-ceecc5354d1c_terseLabel_en-US" xlink:label="lab_ifrs-full_Assets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total assets</link:label>
    <link:label id="lab_ifrs-full_Assets_019e3b4c-3a5a-732b-bafc-36de66c147c7_periodStartLabel_en-US" xlink:label="lab_ifrs-full_Assets" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Balance, beginning of period</link:label>
    <link:label id="lab_ifrs-full_Assets_019e3b4c-3a5a-7831-b2cb-b71be10d804b_periodEndLabel_en-US" xlink:label="lab_ifrs-full_Assets" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Balance, end of period</link:label>
    <link:label id="lab_ifrs-full_Assets_label_en-US" xlink:label="lab_ifrs-full_Assets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_Assets" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_Assets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_Assets" xlink:to="lab_ifrs-full_Assets" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OperatingLeaseIncome_019ede57-9fba-751d-9d81-94d63173abae_terseLabel_en-US" xlink:label="lab_ifrs-full_OperatingLeaseIncome" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Lease revenue</link:label>
    <link:label id="lab_ifrs-full_OperatingLeaseIncome_label_en-US" xlink:label="lab_ifrs-full_OperatingLeaseIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating lease income</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OperatingLeaseIncome" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_OperatingLeaseIncome"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OperatingLeaseIncome" xlink:to="lab_ifrs-full_OperatingLeaseIncome" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_DerivativeLiabilitiesAtFairValueThroughProfitOrLossOrOtherComprehensiveIncomeCategoryMember_019edfa0-67a3-724a-a1c2-79a653bdcfd6_terseLabel_en-US" xlink:label="lab_bpy_DerivativeLiabilitiesAtFairValueThroughProfitOrLossOrOtherComprehensiveIncomeCategoryMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">FVTOCI/FVTPL</link:label>
    <link:label id="lab_bpy_DerivativeLiabilitiesAtFairValueThroughProfitOrLossOrOtherComprehensiveIncomeCategoryMember_label_en-US" xlink:label="lab_bpy_DerivativeLiabilitiesAtFairValueThroughProfitOrLossOrOtherComprehensiveIncomeCategoryMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative Liabilities At Fair Value Through Profit Or Loss Or Other Comprehensive Income, Category [Member]</link:label>
    <link:label id="lab_bpy_DerivativeLiabilitiesAtFairValueThroughProfitOrLossOrOtherComprehensiveIncomeCategoryMember_documentation_en-US" xlink:label="lab_bpy_DerivativeLiabilitiesAtFairValueThroughProfitOrLossOrOtherComprehensiveIncomeCategoryMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Derivative Liabilities At Fair Value Through Profit Or Loss Or Other Comprehensive Income, Category</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_DerivativeLiabilitiesAtFairValueThroughProfitOrLossOrOtherComprehensiveIncomeCategoryMember" xlink:href="bpy-20260630.xsd#bpy_DerivativeLiabilitiesAtFairValueThroughProfitOrLossOrOtherComprehensiveIncomeCategoryMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_DerivativeLiabilitiesAtFairValueThroughProfitOrLossOrOtherComprehensiveIncomeCategoryMember" xlink:to="lab_bpy_DerivativeLiabilitiesAtFairValueThroughProfitOrLossOrOtherComprehensiveIncomeCategoryMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_PreferredEquityMember_019e3b4c-3ae9-7ee4-95b1-9838472eed68_verboseLabel_en-US" xlink:label="lab_bpy_PreferredEquityMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Preferred</link:label>
    <link:label id="lab_bpy_PreferredEquityMember_label_en-US" xlink:label="lab_bpy_PreferredEquityMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Equity [Member]</link:label>
    <link:label id="lab_bpy_PreferredEquityMember_documentation_en-US" xlink:label="lab_bpy_PreferredEquityMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Preferred Equity [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_PreferredEquityMember" xlink:href="bpy-20260630.xsd#bpy_PreferredEquityMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_PreferredEquityMember" xlink:to="lab_bpy_PreferredEquityMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_ManagementContractsMember_019e3b4c-3ae9-7ab7-a815-dd04d0b9a1b4_terseLabel_en-US" xlink:label="lab_bpy_ManagementContractsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Management contracts</link:label>
    <link:label id="lab_bpy_ManagementContractsMember_label_en-US" xlink:label="lab_bpy_ManagementContractsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Management Contracts [Member]</link:label>
    <link:label id="lab_bpy_ManagementContractsMember_documentation_en-US" xlink:label="lab_bpy_ManagementContractsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Management Contracts [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_ManagementContractsMember" xlink:href="bpy-20260630.xsd#bpy_ManagementContractsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_ManagementContractsMember" xlink:to="lab_bpy_ManagementContractsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_SignificantInvestmentsInAssociatesDomain_019e3b4c-398b-7f4c-a38b-d31aafc15cea_terseLabel_en-US" xlink:label="lab_ifrs-full_SignificantInvestmentsInAssociatesDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Associates</link:label>
    <link:label id="lab_ifrs-full_SignificantInvestmentsInAssociatesDomain_label_en-US" xlink:label="lab_ifrs-full_SignificantInvestmentsInAssociatesDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Associates [domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_SignificantInvestmentsInAssociatesDomain" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_SignificantInvestmentsInAssociatesDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_SignificantInvestmentsInAssociatesDomain" xlink:to="lab_ifrs-full_SignificantInvestmentsInAssociatesDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_PremierOfficeAndMixedUseComplexesMember_019e3b4c-3ae9-7894-b3ed-8ca6f42f8ebf_terseLabel_en-US" xlink:label="lab_bpy_PremierOfficeAndMixedUseComplexesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Premier office and mixed-use complexes</link:label>
    <link:label id="lab_bpy_PremierOfficeAndMixedUseComplexesMember_label_en-US" xlink:label="lab_bpy_PremierOfficeAndMixedUseComplexesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Premier Office and Mixed-Use Complexes [Member]</link:label>
    <link:label id="lab_bpy_PremierOfficeAndMixedUseComplexesMember_documentation_en-US" xlink:label="lab_bpy_PremierOfficeAndMixedUseComplexesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Premier Office and Mixed-Use Complexes</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_PremierOfficeAndMixedUseComplexesMember" xlink:href="bpy-20260630.xsd#bpy_PremierOfficeAndMixedUseComplexesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_PremierOfficeAndMixedUseComplexesMember" xlink:to="lab_bpy_PremierOfficeAndMixedUseComplexesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_EquityMethodInvesteeNameDomain_019e3b4c-3a5a-7579-b1d0-169c43d2ae85_terseLabel_en-US" xlink:label="lab_srt_EquityMethodInvesteeNameDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investment, Name [Domain]</link:label>
    <link:label id="lab_srt_EquityMethodInvesteeNameDomain_label_en-US" xlink:label="lab_srt_EquityMethodInvesteeNameDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment, Name [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_EquityMethodInvesteeNameDomain" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_EquityMethodInvesteeNameDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_EquityMethodInvesteeNameDomain" xlink:to="lab_srt_EquityMethodInvesteeNameDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_currency_KRW_019e3b4c-398b-7138-a31a-27fa5a9a79ca_terseLabel_en-US" xlink:label="lab_currency_KRW" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">South Korean Won</link:label>
    <link:label id="lab_currency_KRW_label_en-US" xlink:label="lab_currency_KRW" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Korea (South), Won</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_currency_KRW" xlink:href="https://xbrl.sec.gov/currency/2025/currency-2025.xsd#currency_KRW"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_currency_KRW" xlink:to="lab_currency_KRW" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_NoncurrentInventories_019e3b4c-398b-7408-b39e-56439fba260a_terseLabel_en-US" xlink:label="lab_ifrs-full_NoncurrentInventories" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Inventory</link:label>
    <link:label id="lab_ifrs-full_NoncurrentInventories_label_en-US" xlink:label="lab_ifrs-full_NoncurrentInventories" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-current inventories</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_NoncurrentInventories" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_NoncurrentInventories"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_NoncurrentInventories" xlink:to="lab_ifrs-full_NoncurrentInventories" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_InvestmentPropertyMember_019e3b4c-398b-7843-9b72-ee1a2f1eabd9_terseLabel_en-US" xlink:label="lab_ifrs-full_InvestmentPropertyMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investment property</link:label>
    <link:label id="lab_ifrs-full_InvestmentPropertyMember_label_en-US" xlink:label="lab_ifrs-full_InvestmentPropertyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment property [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_InvestmentPropertyMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_InvestmentPropertyMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_InvestmentPropertyMember" xlink:to="lab_ifrs-full_InvestmentPropertyMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_TypesOfInterestRatesAxis_019e3b4c-3a5a-7846-b0b8-d7e613fe56eb_terseLabel_en-US" xlink:label="lab_ifrs-full_TypesOfInterestRatesAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Types of interest rates [axis]</link:label>
    <link:label id="lab_ifrs-full_TypesOfInterestRatesAxis_label_en-US" xlink:label="lab_ifrs-full_TypesOfInterestRatesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Types of interest rates [axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_TypesOfInterestRatesAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_TypesOfInterestRatesAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_TypesOfInterestRatesAxis" xlink:to="lab_ifrs-full_TypesOfInterestRatesAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_LimitedPartnerAbstract_019e3b4c-3a5a-766b-9ba6-43a15ee374ec_terseLabel_en-US" xlink:label="lab_bpy_LimitedPartnerAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Limited partners</link:label>
    <link:label id="lab_bpy_LimitedPartnerAbstract_label_en-US" xlink:label="lab_bpy_LimitedPartnerAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Limited Partner [Abstract]</link:label>
    <link:label id="lab_bpy_LimitedPartnerAbstract_documentation_en-US" xlink:label="lab_bpy_LimitedPartnerAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Limiter Partner [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_LimitedPartnerAbstract" xlink:href="bpy-20260630.xsd#bpy_LimitedPartnerAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_LimitedPartnerAbstract" xlink:to="lab_bpy_LimitedPartnerAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_Revenue_019e3b4c-3a5a-7161-a0fe-5ad7d6e52519_totalLabel_en-US" xlink:label="lab_ifrs-full_Revenue" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total revenue</link:label>
    <link:label id="lab_ifrs-full_Revenue_019e3b4c-3a5a-7945-bd5c-515036c004b2_netLabel_en-US" xlink:label="lab_ifrs-full_Revenue" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Revenue</link:label>
    <link:label id="lab_ifrs-full_Revenue_019e3b4c-3a5a-7598-b6a9-441f2794bc13_terseLabel_en-US" xlink:label="lab_ifrs-full_Revenue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total revenue</link:label>
    <link:label id="lab_ifrs-full_Revenue_label_en-US" xlink:label="lab_ifrs-full_Revenue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revenue</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_Revenue" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_Revenue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_Revenue" xlink:to="lab_ifrs-full_Revenue" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_SeriesThreeSeniorPreferredSharesMember_019e3b4c-3ae9-7669-b8d6-efeff2121918_terseLabel_en-US" xlink:label="lab_bpy_SeriesThreeSeniorPreferredSharesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Series 3, Senior Preferred Shares</link:label>
    <link:label id="lab_bpy_SeriesThreeSeniorPreferredSharesMember_label_en-US" xlink:label="lab_bpy_SeriesThreeSeniorPreferredSharesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Series Three, Senior Preferred Shares [Member]</link:label>
    <link:label id="lab_bpy_SeriesThreeSeniorPreferredSharesMember_documentation_en-US" xlink:label="lab_bpy_SeriesThreeSeniorPreferredSharesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Series Three, Senior Preferred Shares [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_SeriesThreeSeniorPreferredSharesMember" xlink:href="bpy-20260630.xsd#bpy_SeriesThreeSeniorPreferredSharesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_SeriesThreeSeniorPreferredSharesMember" xlink:to="lab_bpy_SeriesThreeSeniorPreferredSharesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfBusinessCombinationsAbstract_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfBusinessCombinationsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about business combination [abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfBusinessCombinationsAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfBusinessCombinationsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfBusinessCombinationsAbstract" xlink:to="lab_ifrs-full_DisclosureOfBusinessCombinationsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_DisclosureOfDirectHospitalityExpenseTextBlock_019e3b4c-3ae9-7842-80b0-0311611bff3d_netLabel_en-US" xlink:label="lab_bpy_DisclosureOfDirectHospitalityExpenseTextBlock" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">DIRECT HOSPITALITY EXPENSE</link:label>
    <link:label id="lab_bpy_DisclosureOfDirectHospitalityExpenseTextBlock_label_en-US" xlink:label="lab_bpy_DisclosureOfDirectHospitalityExpenseTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure Of Direct Hospitality Expense [Text Block]</link:label>
    <link:label id="lab_bpy_DisclosureOfDirectHospitalityExpenseTextBlock_documentation_en-US" xlink:label="lab_bpy_DisclosureOfDirectHospitalityExpenseTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure Of Direct Hospitality Expense [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_DisclosureOfDirectHospitalityExpenseTextBlock" xlink:href="bpy-20260630.xsd#bpy_DisclosureOfDirectHospitalityExpenseTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_DisclosureOfDirectHospitalityExpenseTextBlock" xlink:to="lab_bpy_DisclosureOfDirectHospitalityExpenseTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityAddressCityOrTown_019e3b4c-3a5a-743c-806b-bb5c07d9376e_terseLabel_en-US" xlink:label="lab_dei_EntityAddressCityOrTown" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Address, City or Town</link:label>
    <link:label id="lab_dei_EntityAddressCityOrTown_label_en-US" xlink:label="lab_dei_EntityAddressCityOrTown" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Address, City or Town</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressCityOrTown" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityAddressCityOrTown"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityAddressCityOrTown" xlink:to="lab_dei_EntityAddressCityOrTown" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfBorrowingsExplanatory_019e3b4c-3ae9-7ae4-a5b6-c8e8d04140cf_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfBorrowingsExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">DEBT OBLIGATIONS</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfBorrowingsExplanatory_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfBorrowingsExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of borrowings [text block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfBorrowingsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfBorrowingsExplanatory"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfBorrowingsExplanatory" xlink:to="lab_ifrs-full_DisclosureOfBorrowingsExplanatory" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_OperatingSegmentsAbstract_019e3b4c-398b-73c7-9155-3e34716a76a7_terseLabel_en-US" xlink:label="lab_bpy_OperatingSegmentsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Operating Segments [Abstract]</link:label>
    <link:label id="lab_bpy_OperatingSegmentsAbstract_label_en-US" xlink:label="lab_bpy_OperatingSegmentsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Segments [Abstract]</link:label>
    <link:label id="lab_bpy_OperatingSegmentsAbstract_documentation_en-US" xlink:label="lab_bpy_OperatingSegmentsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Operating Segments [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_OperatingSegmentsAbstract" xlink:href="bpy-20260630.xsd#bpy_OperatingSegmentsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_OperatingSegmentsAbstract" xlink:to="lab_bpy_OperatingSegmentsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_IssuedCapitalMember_019e3b4c-398b-7fb5-bb27-aa8690e2e26e_terseLabel_en-US" xlink:label="lab_ifrs-full_IssuedCapitalMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Capital</link:label>
    <link:label id="lab_ifrs-full_IssuedCapitalMember_label_en-US" xlink:label="lab_ifrs-full_IssuedCapitalMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Issued capital [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IssuedCapitalMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_IssuedCapitalMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IssuedCapitalMember" xlink:to="lab_ifrs-full_IssuedCapitalMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_PaymentForSettlementOfDeferredConsideration_019e3b4c-3ae9-7d1e-bffa-82e7a83cb15a_negatedTerseLabel_en-US" xlink:label="lab_bpy_PaymentForSettlementOfDeferredConsideration" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Settlement of deferred consideration</link:label>
    <link:label id="lab_bpy_PaymentForSettlementOfDeferredConsideration_label_en-US" xlink:label="lab_bpy_PaymentForSettlementOfDeferredConsideration" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payment For Settlement Of Deferred Consideration</link:label>
    <link:label id="lab_bpy_PaymentForSettlementOfDeferredConsideration_documentation_en-US" xlink:label="lab_bpy_PaymentForSettlementOfDeferredConsideration" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Payment For Settlement Of Deferred Consideration</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_PaymentForSettlementOfDeferredConsideration" xlink:href="bpy-20260630.xsd#bpy_PaymentForSettlementOfDeferredConsideration"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_PaymentForSettlementOfDeferredConsideration" xlink:to="lab_bpy_PaymentForSettlementOfDeferredConsideration" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsAbstract_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of fair value measurement of assets [abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfFairValueMeasurementOfAssetsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsAbstract" xlink:to="lab_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_BrookfieldWealthSolutionsBWSMember_019edb55-4f86-7b3d-972e-3e9593190794_terseLabel_en-US" xlink:label="lab_bpy_BrookfieldWealthSolutionsBWSMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Brookfield Wealth Solutions (BWS)</link:label>
    <link:label id="lab_bpy_BrookfieldWealthSolutionsBWSMember_label_en-US" xlink:label="lab_bpy_BrookfieldWealthSolutionsBWSMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Brookfield Wealth Solutions (BWS) [Member]</link:label>
    <link:label id="lab_bpy_BrookfieldWealthSolutionsBWSMember_documentation_en-US" xlink:label="lab_bpy_BrookfieldWealthSolutionsBWSMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Brookfield Wealth Solutions (BWS)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_BrookfieldWealthSolutionsBWSMember" xlink:href="bpy-20260630.xsd#bpy_BrookfieldWealthSolutionsBWSMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_BrookfieldWealthSolutionsBWSMember" xlink:to="lab_bpy_BrookfieldWealthSolutionsBWSMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_RedeemableExchangeableAndSpecialLimitedPartnershipUnitsMember_019e3b4c-3a5a-7d37-87f0-7efaeb18e732_verboseLabel_en-US" xlink:label="lab_bpy_RedeemableExchangeableAndSpecialLimitedPartnershipUnitsMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Redeemable / exchangeable and special limited partnership units</link:label>
    <link:label id="lab_bpy_RedeemableExchangeableAndSpecialLimitedPartnershipUnitsMember_019e3b4c-3a5a-79dc-b335-3e9379ccadab_terseLabel_en-US" xlink:label="lab_bpy_RedeemableExchangeableAndSpecialLimitedPartnershipUnitsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">REUs</link:label>
    <link:label id="lab_bpy_RedeemableExchangeableAndSpecialLimitedPartnershipUnitsMember_label_en-US" xlink:label="lab_bpy_RedeemableExchangeableAndSpecialLimitedPartnershipUnitsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Redeemable/Exchangeable And Special Limited Partnership Units [Member]</link:label>
    <link:label id="lab_bpy_RedeemableExchangeableAndSpecialLimitedPartnershipUnitsMember_documentation_en-US" xlink:label="lab_bpy_RedeemableExchangeableAndSpecialLimitedPartnershipUnitsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Redeemable/Exchangeable And Special Limited Partnership Units [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_RedeemableExchangeableAndSpecialLimitedPartnershipUnitsMember" xlink:href="bpy-20260630.xsd#bpy_RedeemableExchangeableAndSpecialLimitedPartnershipUnitsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_RedeemableExchangeableAndSpecialLimitedPartnershipUnitsMember" xlink:to="lab_bpy_RedeemableExchangeableAndSpecialLimitedPartnershipUnitsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_IncreaseDecreaseThroughChangeInEquityOfSubsidiaries_019e3b4c-3a5a-7e43-a12c-b8795ed20e82_terseLabel_en-US" xlink:label="lab_ifrs-full_IncreaseDecreaseThroughChangeInEquityOfSubsidiaries" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Issuance (repurchase/deconsolidation) of interests in operating subsidiaries</link:label>
    <link:label id="lab_ifrs-full_IncreaseDecreaseThroughChangeInEquityOfSubsidiaries_label_en-US" xlink:label="lab_ifrs-full_IncreaseDecreaseThroughChangeInEquityOfSubsidiaries" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (decrease) through change in equity of subsidiaries, equity</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IncreaseDecreaseThroughChangeInEquityOfSubsidiaries" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_IncreaseDecreaseThroughChangeInEquityOfSubsidiaries"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IncreaseDecreaseThroughChangeInEquityOfSubsidiaries" xlink:to="lab_ifrs-full_IncreaseDecreaseThroughChangeInEquityOfSubsidiaries" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_PurchaseOfOtherLongtermAssetsClassifiedAsInvestingActivities_019e3b4c-398b-753f-87ba-12c8252ec868_negatedTerseLabel_en-US" xlink:label="lab_ifrs-full_PurchaseOfOtherLongtermAssetsClassifiedAsInvestingActivities" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Financial assets and other</link:label>
    <link:label id="lab_ifrs-full_PurchaseOfOtherLongtermAssetsClassifiedAsInvestingActivities_label_en-US" xlink:label="lab_ifrs-full_PurchaseOfOtherLongtermAssetsClassifiedAsInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Purchase of other long-term assets, classified as investing activities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_PurchaseOfOtherLongtermAssetsClassifiedAsInvestingActivities" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_PurchaseOfOtherLongtermAssetsClassifiedAsInvestingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_PurchaseOfOtherLongtermAssetsClassifiedAsInvestingActivities" xlink:to="lab_ifrs-full_PurchaseOfOtherLongtermAssetsClassifiedAsInvestingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory_019e3b4c-3a5a-7c88-a5ff-77998db24424_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">HELD FOR SALE</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of non-current assets or disposal groups classified as held for sale [text block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory" xlink:to="lab_ifrs-full_DisclosureOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_ANZStorageMember_019f8de7-f990-7619-8fd2-579ae043bf09_terseLabel_en-US" xlink:label="lab_bpy_ANZStorageMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">ANZ Storage</link:label>
    <link:label id="lab_bpy_ANZStorageMember_label_en-US" xlink:label="lab_bpy_ANZStorageMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ANZ Storage [Member]</link:label>
    <link:label id="lab_bpy_ANZStorageMember_documentation_en-US" xlink:label="lab_bpy_ANZStorageMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">ANZ Storage</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_ANZStorageMember" xlink:href="bpy-20260630.xsd#bpy_ANZStorageMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_ANZStorageMember" xlink:to="lab_bpy_ANZStorageMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CurrentAssetsOtherThanAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners_019e3b4c-3a5a-7a1b-9997-e3269bd56667_totalLabel_en-US" xlink:label="lab_ifrs-full_CurrentAssetsOtherThanAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total current assets</link:label>
    <link:label id="lab_ifrs-full_CurrentAssetsOtherThanAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners_label_en-US" xlink:label="lab_ifrs-full_CurrentAssetsOtherThanAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current assets other than non-current assets or disposal groups classified as held for sale or as held for distribution to owners</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CurrentAssetsOtherThanAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_CurrentAssetsOtherThanAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CurrentAssetsOtherThanAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners" xlink:to="lab_ifrs-full_CurrentAssetsOtherThanAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_LPInvestmentsSegmentMember_019ede54-749d-7cfc-8465-939f69e1fe46_terseLabel_en-US" xlink:label="lab_bpy_LPInvestmentsSegmentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">LP Investments</link:label>
    <link:label id="lab_bpy_LPInvestmentsSegmentMember_label_en-US" xlink:label="lab_bpy_LPInvestmentsSegmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">LP Investments Segment [Member]</link:label>
    <link:label id="lab_bpy_LPInvestmentsSegmentMember_documentation_en-US" xlink:label="lab_bpy_LPInvestmentsSegmentMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">LP Invests Segment [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_LPInvestmentsSegmentMember" xlink:href="bpy-20260630.xsd#bpy_LPInvestmentsSegmentMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_LPInvestmentsSegmentMember" xlink:to="lab_bpy_LPInvestmentsSegmentMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherNoncurrentNonfinancialAssets_019e3b4c-3a5a-7853-98f3-6fa7f8d3a388_terseLabel_en-US" xlink:label="lab_ifrs-full_OtherNoncurrentNonfinancialAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other</link:label>
    <link:label id="lab_ifrs-full_OtherNoncurrentNonfinancialAssets_label_en-US" xlink:label="lab_ifrs-full_OtherNoncurrentNonfinancialAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other non-current non-financial assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherNoncurrentNonfinancialAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_OtherNoncurrentNonfinancialAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherNoncurrentNonfinancialAssets" xlink:to="lab_ifrs-full_OtherNoncurrentNonfinancialAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_SupplementalCashFlowInformationAbstractAbstract_019e3b4c-398c-7424-b6b1-04416bbb5d57_terseLabel_en-US" xlink:label="lab_bpy_SupplementalCashFlowInformationAbstractAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Supplemental cash flow information</link:label>
    <link:label id="lab_bpy_SupplementalCashFlowInformationAbstractAbstract_label_en-US" xlink:label="lab_bpy_SupplementalCashFlowInformationAbstractAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Supplemental Cash Flow Information Abstract [Abstract]</link:label>
    <link:label id="lab_bpy_SupplementalCashFlowInformationAbstractAbstract_documentation_en-US" xlink:label="lab_bpy_SupplementalCashFlowInformationAbstractAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Supplemental Cash Flow Information Abstract [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_SupplementalCashFlowInformationAbstractAbstract" xlink:href="bpy-20260630.xsd#bpy_SupplementalCashFlowInformationAbstractAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_SupplementalCashFlowInformationAbstractAbstract" xlink:to="lab_bpy_SupplementalCashFlowInformationAbstractAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisposalsPropertyPlantAndEquipment_019e3b4c-3a5a-7761-b34f-61dc79af3d06_negatedTerseLabel_en-US" xlink:label="lab_ifrs-full_DisposalsPropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Disposals</link:label>
    <link:label id="lab_ifrs-full_DisposalsPropertyPlantAndEquipment_label_en-US" xlink:label="lab_ifrs-full_DisposalsPropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disposals, property, plant and equipment</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisposalsPropertyPlantAndEquipment" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisposalsPropertyPlantAndEquipment"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisposalsPropertyPlantAndEquipment" xlink:to="lab_ifrs-full_DisposalsPropertyPlantAndEquipment" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_OtherNoncontrollingInterestsPreferredEquityHeldBySubdidaries_019e3b4c-3a5a-7b5a-b8fc-3c358a3bfe63_negatedTerseLabel_en-US" xlink:label="lab_bpy_OtherNoncontrollingInterestsPreferredEquityHeldBySubdidaries" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Preferred shares held by Brookfield Corporation</link:label>
    <link:label id="lab_bpy_OtherNoncontrollingInterestsPreferredEquityHeldBySubdidaries_label_en-US" xlink:label="lab_bpy_OtherNoncontrollingInterestsPreferredEquityHeldBySubdidaries" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Noncontrolling Interests, Preferred Equity Held By Subdidaries</link:label>
    <link:label id="lab_bpy_OtherNoncontrollingInterestsPreferredEquityHeldBySubdidaries_documentation_en-US" xlink:label="lab_bpy_OtherNoncontrollingInterestsPreferredEquityHeldBySubdidaries" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other Noncontrolling Interests, Preferred Equity Held By Subdidaries</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_OtherNoncontrollingInterestsPreferredEquityHeldBySubdidaries" xlink:href="bpy-20260630.xsd#bpy_OtherNoncontrollingInterestsPreferredEquityHeldBySubdidaries"/>
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    <link:label id="lab_ifrs-full_CurrentPrepaidExpenses_019e3b4c-3ae9-7d2f-a7ea-599b9a39e63f_terseLabel_en-US" xlink:label="lab_ifrs-full_CurrentPrepaidExpenses" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Prepaid expenses</link:label>
    <link:label id="lab_ifrs-full_CurrentPrepaidExpenses_label_en-US" xlink:label="lab_ifrs-full_CurrentPrepaidExpenses" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current prepaid expenses</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CurrentPrepaidExpenses" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_CurrentPrepaidExpenses"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CurrentPrepaidExpenses" xlink:to="lab_ifrs-full_CurrentPrepaidExpenses" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_AssetsAbstract_019e3b4c-3ae9-7635-a779-4fe4f16d6e90_terseLabel_en-US" xlink:label="lab_ifrs-full_AssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Assets</link:label>
    <link:label id="lab_ifrs-full_AssetsAbstract_label_en-US" xlink:label="lab_ifrs-full_AssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets [abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AssetsAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_AssetsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AssetsAbstract" xlink:to="lab_ifrs-full_AssetsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_InvestmentAccountedForUsingEquityMethodDistributionReceived_019e3b4c-3a5a-7ea0-807c-fb80c11aaec1_negatedTerseLabel_en-US" xlink:label="lab_bpy_InvestmentAccountedForUsingEquityMethodDistributionReceived" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Distributions received</link:label>
    <link:label id="lab_bpy_InvestmentAccountedForUsingEquityMethodDistributionReceived_label_en-US" xlink:label="lab_bpy_InvestmentAccountedForUsingEquityMethodDistributionReceived" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment Accounted For Using Equity Method, Distribution Received</link:label>
    <link:label id="lab_bpy_InvestmentAccountedForUsingEquityMethodDistributionReceived_documentation_en-US" xlink:label="lab_bpy_InvestmentAccountedForUsingEquityMethodDistributionReceived" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Investment Accounted For Using Equity Method, Distribution Received</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_InvestmentAccountedForUsingEquityMethodDistributionReceived" xlink:href="bpy-20260630.xsd#bpy_InvestmentAccountedForUsingEquityMethodDistributionReceived"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_InvestmentAccountedForUsingEquityMethodDistributionReceived" xlink:to="lab_bpy_InvestmentAccountedForUsingEquityMethodDistributionReceived" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_EuropeanHostelsMember_019edaa7-7bea-793e-81c3-c70345f368fc_terseLabel_en-US" xlink:label="lab_bpy_EuropeanHostelsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">European Hostels</link:label>
    <link:label id="lab_bpy_EuropeanHostelsMember_label_en-US" xlink:label="lab_bpy_EuropeanHostelsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">European Hostels [Member]</link:label>
    <link:label id="lab_bpy_EuropeanHostelsMember_documentation_en-US" xlink:label="lab_bpy_EuropeanHostelsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">European Hostels</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_EuropeanHostelsMember" xlink:href="bpy-20260630.xsd#bpy_EuropeanHostelsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_EuropeanHostelsMember" xlink:to="lab_bpy_EuropeanHostelsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_DisclosureOfDetailedInformationOnDirectHospitalityExpenseTableTextBlock_019e3b4c-3a5a-73e7-bebb-c9ef4e3c18da_terseLabel_en-US" xlink:label="lab_bpy_DisclosureOfDetailedInformationOnDirectHospitalityExpenseTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Detailed Information on Direct Hospitality Expense</link:label>
    <link:label id="lab_bpy_DisclosureOfDetailedInformationOnDirectHospitalityExpenseTableTextBlock_label_en-US" xlink:label="lab_bpy_DisclosureOfDetailedInformationOnDirectHospitalityExpenseTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure Of Detailed Information On Direct Hospitality Expense [Table Text Block]</link:label>
    <link:label id="lab_bpy_DisclosureOfDetailedInformationOnDirectHospitalityExpenseTableTextBlock_documentation_en-US" xlink:label="lab_bpy_DisclosureOfDetailedInformationOnDirectHospitalityExpenseTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure Of Detailed Information On Direct Hospitality Expense [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_DisclosureOfDetailedInformationOnDirectHospitalityExpenseTableTextBlock" xlink:href="bpy-20260630.xsd#bpy_DisclosureOfDetailedInformationOnDirectHospitalityExpenseTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_DisclosureOfDetailedInformationOnDirectHospitalityExpenseTableTextBlock" xlink:to="lab_bpy_DisclosureOfDetailedInformationOnDirectHospitalityExpenseTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DirectOperatingExpenseFromInvestmentPropertyAbstract_019e3b4c-398b-7041-a8aa-8f911b9ebf00_terseLabel_en-US" xlink:label="lab_ifrs-full_DirectOperatingExpenseFromInvestmentPropertyAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Direct operating expense from investment property [abstract]</link:label>
    <link:label id="lab_ifrs-full_DirectOperatingExpenseFromInvestmentPropertyAbstract_label_en-US" xlink:label="lab_ifrs-full_DirectOperatingExpenseFromInvestmentPropertyAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Direct operating expense from investment property [abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DirectOperatingExpenseFromInvestmentPropertyAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DirectOperatingExpenseFromInvestmentPropertyAbstract"/>
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    <link:label id="lab_bpy_EuroToUnitedKingdomPoundsHedgeMember_019ededc-a1f4-7cca-91a8-29411bb9f67a_terseLabel_en-US" xlink:label="lab_bpy_EuroToUnitedKingdomPoundsHedgeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Euro to United Kingdom Pounds Hedge</link:label>
    <link:label id="lab_bpy_EuroToUnitedKingdomPoundsHedgeMember_label_en-US" xlink:label="lab_bpy_EuroToUnitedKingdomPoundsHedgeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Euro to United Kingdom Pounds Hedge [Member]</link:label>
    <link:label id="lab_bpy_EuroToUnitedKingdomPoundsHedgeMember_documentation_en-US" xlink:label="lab_bpy_EuroToUnitedKingdomPoundsHedgeMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Euro to United Kingdom Pounds Hedge</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_EuroToUnitedKingdomPoundsHedgeMember" xlink:href="bpy-20260630.xsd#bpy_EuroToUnitedKingdomPoundsHedgeMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_EuroToUnitedKingdomPoundsHedgeMember" xlink:to="lab_bpy_EuroToUnitedKingdomPoundsHedgeMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisposalGroupsClassifiedAsHeldForSaleMember_019e3b4c-398b-7a9c-bd9c-bb74f0a9653f_terseLabel_en-US" xlink:label="lab_ifrs-full_DisposalGroupsClassifiedAsHeldForSaleMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disposal groups classified as held for sale</link:label>
    <link:label id="lab_ifrs-full_DisposalGroupsClassifiedAsHeldForSaleMember_label_en-US" xlink:label="lab_ifrs-full_DisposalGroupsClassifiedAsHeldForSaleMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disposal groups classified as held for sale [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisposalGroupsClassifiedAsHeldForSaleMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisposalGroupsClassifiedAsHeldForSaleMember"/>
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    <link:label id="lab_ifrs-full_CurrentAssetsAbstract_019e3b4c-3ae8-7000-87fd-ee99cf36a397_terseLabel_en-US" xlink:label="lab_ifrs-full_CurrentAssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Current assets</link:label>
    <link:label id="lab_ifrs-full_CurrentAssetsAbstract_label_en-US" xlink:label="lab_ifrs-full_CurrentAssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current assets [abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CurrentAssetsAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_CurrentAssetsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CurrentAssetsAbstract" xlink:to="lab_ifrs-full_CurrentAssetsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_InvestmentAccountedForUsingEquityMethodForeignCurrencyTranslation_019e3b4c-3a5a-762e-a749-470df22f4a92_terseLabel_en-US" xlink:label="lab_bpy_InvestmentAccountedForUsingEquityMethodForeignCurrencyTranslation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Foreign currency translation</link:label>
    <link:label id="lab_bpy_InvestmentAccountedForUsingEquityMethodForeignCurrencyTranslation_label_en-US" xlink:label="lab_bpy_InvestmentAccountedForUsingEquityMethodForeignCurrencyTranslation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment Accounted For Using Equity Method, Foreign Currency Translation</link:label>
    <link:label id="lab_bpy_InvestmentAccountedForUsingEquityMethodForeignCurrencyTranslation_documentation_en-US" xlink:label="lab_bpy_InvestmentAccountedForUsingEquityMethodForeignCurrencyTranslation" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Investment Accounted For Using Equity Method, Foreign Currency Translation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_InvestmentAccountedForUsingEquityMethodForeignCurrencyTranslation" xlink:href="bpy-20260630.xsd#bpy_InvestmentAccountedForUsingEquityMethodForeignCurrencyTranslation"/>
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    <link:label id="lab_bpy_IncreaseDecreaseInEquityRollForward_019e3b4c-3a5a-7348-bfab-af0b10ed3dcd_terseLabel_en-US" xlink:label="lab_bpy_IncreaseDecreaseInEquityRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Increase (Decrease) In Equity [Roll Forward]</link:label>
    <link:label id="lab_bpy_IncreaseDecreaseInEquityRollForward_label_en-US" xlink:label="lab_bpy_IncreaseDecreaseInEquityRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) In Equity [Roll Forward]</link:label>
    <link:label id="lab_bpy_IncreaseDecreaseInEquityRollForward_documentation_en-US" xlink:label="lab_bpy_IncreaseDecreaseInEquityRollForward" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Increase (Decrease) In Equity</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_IncreaseDecreaseInEquityRollForward" xlink:href="bpy-20260630.xsd#bpy_IncreaseDecreaseInEquityRollForward"/>
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    <link:label id="lab_bpy_NoncurrentAssetsHeldForSaleAndDiscontinuedOperationsAbstract_019e3b4c-3ae9-716b-b6e0-2a379212a26d_terseLabel_en-US" xlink:label="lab_bpy_NoncurrentAssetsHeldForSaleAndDiscontinuedOperationsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-current Assets Held For Sale And Discontinued Operations [Abstract]</link:label>
    <link:label id="lab_bpy_NoncurrentAssetsHeldForSaleAndDiscontinuedOperationsAbstract_label_en-US" xlink:label="lab_bpy_NoncurrentAssetsHeldForSaleAndDiscontinuedOperationsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-current Assets Held For Sale And Discontinued Operations [Abstract]</link:label>
    <link:label id="lab_bpy_NoncurrentAssetsHeldForSaleAndDiscontinuedOperationsAbstract_documentation_en-US" xlink:label="lab_bpy_NoncurrentAssetsHeldForSaleAndDiscontinuedOperationsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Non-current Assets Held For Sale And Discontinued Operations</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_NoncurrentAssetsHeldForSaleAndDiscontinuedOperationsAbstract" xlink:href="bpy-20260630.xsd#bpy_NoncurrentAssetsHeldForSaleAndDiscontinuedOperationsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_NoncurrentAssetsHeldForSaleAndDiscontinuedOperationsAbstract" xlink:to="lab_bpy_NoncurrentAssetsHeldForSaleAndDiscontinuedOperationsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityAddressPostalZipCode_019e3b4c-3ae9-703c-a38c-a077a7106d11_terseLabel_en-US" xlink:label="lab_dei_EntityAddressPostalZipCode" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Address, Postal Zip Code</link:label>
    <link:label id="lab_dei_EntityAddressPostalZipCode_label_en-US" xlink:label="lab_dei_EntityAddressPostalZipCode" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Address, Postal Zip Code</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressPostalZipCode" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityAddressPostalZipCode"/>
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    <link:label id="lab_ifrs-full_CashFlowHedgesAbstract_019e3b4c-3a5a-7601-ac39-cab9647f2501_terseLabel_en-US" xlink:label="lab_ifrs-full_CashFlowHedgesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash flow hedges</link:label>
    <link:label id="lab_ifrs-full_CashFlowHedgesAbstract_label_en-US" xlink:label="lab_ifrs-full_CashFlowHedgesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash flow hedges [abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CashFlowHedgesAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_CashFlowHedgesAbstract"/>
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    <link:label id="lab_ifrs-full_RevenueAbstract_019e3b4c-398b-7313-99a6-2d11839d2293_terseLabel_en-US" xlink:label="lab_ifrs-full_RevenueAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Revenue [abstract]</link:label>
    <link:label id="lab_ifrs-full_RevenueAbstract_label_en-US" xlink:label="lab_ifrs-full_RevenueAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revenue [abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_RevenueAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_RevenueAbstract"/>
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    <link:label id="lab_bpy_PreferredEquityTrancheTwoMember_label_en-US" xlink:label="lab_bpy_PreferredEquityTrancheTwoMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Equity, Tranche Two [Member]</link:label>
    <link:label id="lab_bpy_PreferredEquityTrancheTwoMember_documentation_en-US" xlink:label="lab_bpy_PreferredEquityTrancheTwoMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Preferred Equity, Tranche Two</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfIncomeTaxExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfIncomeTaxExplanatory"/>
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    <link:label id="lab_bpy_BrookfieldPropertyREITInc.TermDebtMember_documentation_en-US" xlink:label="lab_bpy_BrookfieldPropertyREITInc.TermDebtMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Brookfield Property REIT Inc. Term Debt [Member]</link:label>
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    <link:label id="lab_bpy_LimitedPartner1Member_019e3b4c-398b-7cb8-9805-4e78e8461d16_terseLabel_en-US" xlink:label="lab_bpy_LimitedPartner1Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Limited partners</link:label>
    <link:label id="lab_bpy_LimitedPartner1Member_label_en-US" xlink:label="lab_bpy_LimitedPartner1Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Limited Partner1 [Member]</link:label>
    <link:label id="lab_bpy_LimitedPartner1Member_documentation_en-US" xlink:label="lab_bpy_LimitedPartner1Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Limited Partner1</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_LimitedPartner1Member" xlink:href="bpy-20260630.xsd#bpy_LimitedPartner1Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_LimitedPartner1Member" xlink:to="lab_bpy_LimitedPartner1Member" xlink:type="arc" order="1"/>
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    <link:label id="lab_bpy_DirectHospitalityExpense_documentation_en-US" xlink:label="lab_bpy_DirectHospitalityExpense" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Direct Hospitality Expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_DirectHospitalityExpense" xlink:href="bpy-20260630.xsd#bpy_DirectHospitalityExpense"/>
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    <link:label id="lab_bpy_FVLTIPUnitsOfTheOperatingPartnershipMember_label_en-US" xlink:label="lab_bpy_FVLTIPUnitsOfTheOperatingPartnershipMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">FV LTIP Units of the Operating Partnership [Member]</link:label>
    <link:label id="lab_bpy_FVLTIPUnitsOfTheOperatingPartnershipMember_documentation_en-US" xlink:label="lab_bpy_FVLTIPUnitsOfTheOperatingPartnershipMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">FV LTIP Units of the Operating Partnership</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_FVLTIPUnitsOfTheOperatingPartnershipMember" xlink:href="bpy-20260630.xsd#bpy_FVLTIPUnitsOfTheOperatingPartnershipMember"/>
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    <link:label id="lab_ifrs-full_AdditionsFromAcquisitionsInvestmentProperty_019e3b4c-398b-76a7-80e5-07142cf5a073_terseLabel_en-US" xlink:label="lab_ifrs-full_AdditionsFromAcquisitionsInvestmentProperty" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Property acquisitions</link:label>
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    <link:label id="lab_ifrs-full_DisclosureOfInformationAboutUnconsolidatedSubsidiariesLineItems_019e3b4c-3a5a-7faf-b4ed-65a994d1e16d_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfInformationAboutUnconsolidatedSubsidiariesLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of information about unconsolidated subsidiaries [line items]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfInformationAboutUnconsolidatedSubsidiariesLineItems_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfInformationAboutUnconsolidatedSubsidiariesLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of information about unconsolidated subsidiaries [line items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfInformationAboutUnconsolidatedSubsidiariesLineItems" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfInformationAboutUnconsolidatedSubsidiariesLineItems"/>
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    <link:label id="lab_bpy_CashFlowFromDeconsolidationAndReclassificationToAssetsHeldForSale_019feb98-5af2-7434-af6e-c4436902fb9e_negatedTerseLabel_en-US" xlink:label="lab_bpy_CashFlowFromDeconsolidationAndReclassificationToAssetsHeldForSale" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Cash impact of deconsolidation</link:label>
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    <link:label id="lab_bpy_CashFlowFromDeconsolidationAndReclassificationToAssetsHeldForSale_documentation_en-US" xlink:label="lab_bpy_CashFlowFromDeconsolidationAndReclassificationToAssetsHeldForSale" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Cash Flow From Deconsolidation And Reclassification To Assets Held For Sale</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_CashFlowFromDeconsolidationAndReclassificationToAssetsHeldForSale" xlink:href="bpy-20260630.xsd#bpy_CashFlowFromDeconsolidationAndReclassificationToAssetsHeldForSale"/>
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    <link:label id="lab_bpy_CapitalSecuritiesMember_019e3b4c-3a5a-7fde-bb9a-ae27dc19bb63_terseLabel_en-US" xlink:label="lab_bpy_CapitalSecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Capital securities</link:label>
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    <link:label id="lab_bpy_CapitalSecuritiesMember_documentation_en-US" xlink:label="lab_bpy_CapitalSecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Capital Securities [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_CapitalSecuritiesMember" xlink:href="bpy-20260630.xsd#bpy_CapitalSecuritiesMember"/>
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    <link:label id="lab_bpy_BrookfieldPropertyPartnerscreditfacilitiesMember_019e3b4c-3a5a-7c8c-a3ea-2b2d6a3b29b7_terseLabel_en-US" xlink:label="lab_bpy_BrookfieldPropertyPartnerscreditfacilitiesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Brookfield Property Partners&#8217; credit facilities</link:label>
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    <link:label id="lab_bpy_BrookfieldPropertyPartnerscreditfacilitiesMember_documentation_en-US" xlink:label="lab_bpy_BrookfieldPropertyPartnerscreditfacilitiesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Brookfield Property Partners&#8217; credit facilities [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_BrookfieldPropertyPartnerscreditfacilitiesMember" xlink:href="bpy-20260630.xsd#bpy_BrookfieldPropertyPartnerscreditfacilitiesMember"/>
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    <link:label id="lab_bpy_BPOMember_label_en-US" xlink:label="lab_bpy_BPOMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">BPO [Member]</link:label>
    <link:label id="lab_bpy_BPOMember_documentation_en-US" xlink:label="lab_bpy_BPOMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">BPO [Member]</link:label>
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    <link:label id="lab_ifrs-full_EquityInvestmentsMember_019e3b4c-398b-7abb-bd92-d089817e0e71_terseLabel_en-US" xlink:label="lab_ifrs-full_EquityInvestmentsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Securities</link:label>
    <link:label id="lab_ifrs-full_EquityInvestmentsMember_label_en-US" xlink:label="lab_ifrs-full_EquityInvestmentsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity investments [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_EquityInvestmentsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_EquityInvestmentsMember"/>
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    <link:label id="lab_bpy_ManagementCommentaryExplanatoryAbstract_documentation_en-US" xlink:label="lab_bpy_ManagementCommentaryExplanatoryAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Management Commentary Explanatory [Abstract]</link:label>
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    <link:label id="lab_bpy_IntangibleAssetsAbstract_label_en-US" xlink:label="lab_bpy_IntangibleAssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Assets [Abstract]</link:label>
    <link:label id="lab_bpy_IntangibleAssetsAbstract_documentation_en-US" xlink:label="lab_bpy_IntangibleAssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Intangible Assets [Abstract]</link:label>
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    <link:label id="lab_bpy_AcquisitionsAbstract_label_en-US" xlink:label="lab_bpy_AcquisitionsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Acquisitions [Abstract]</link:label>
    <link:label id="lab_bpy_AcquisitionsAbstract_documentation_en-US" xlink:label="lab_bpy_AcquisitionsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Acquisitions</link:label>
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    <link:label id="lab_bpy_CurrentAssetsMember_documentation_en-US" xlink:label="lab_bpy_CurrentAssetsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Current Assets</link:label>
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    <link:label id="lab_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis_label_en-US" xlink:label="lab_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Classes of property, plant and equipment [axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis"/>
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    <link:label id="lab_bpy_AccountsPayableAndOtherCurrentFinancialLiabilitiesMember_019e3b4c-3a5a-7677-8025-7cf546b4fe08_terseLabel_en-US" xlink:label="lab_bpy_AccountsPayableAndOtherCurrentFinancialLiabilitiesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accounts payable and other liabilities</link:label>
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    <link:label id="lab_bpy_AccountsPayableAndOtherCurrentFinancialLiabilitiesMember_documentation_en-US" xlink:label="lab_bpy_AccountsPayableAndOtherCurrentFinancialLiabilitiesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Accounts Payable And Other Current Financial Liabilities [Member]</link:label>
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    <link:label id="lab_ifrs-full_ClassesOfPropertyPlantAndEquipmentDomain_019e3b4c-3a5a-7d9e-a10e-a08583c0471b_terseLabel_en-US" xlink:label="lab_ifrs-full_ClassesOfPropertyPlantAndEquipmentDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Classes of property, plant and equipment [domain]</link:label>
    <link:label id="lab_ifrs-full_ClassesOfPropertyPlantAndEquipmentDomain_label_en-US" xlink:label="lab_ifrs-full_ClassesOfPropertyPlantAndEquipmentDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Classes of property, plant and equipment [domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ClassesOfPropertyPlantAndEquipmentDomain" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ClassesOfPropertyPlantAndEquipmentDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ClassesOfPropertyPlantAndEquipmentDomain" xlink:to="lab_ifrs-full_ClassesOfPropertyPlantAndEquipmentDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityAddressCountry_019e3b4c-3a5a-7e2f-adde-bd163adf26b3_terseLabel_en-US" xlink:label="lab_dei_EntityAddressCountry" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Address, Country</link:label>
    <link:label id="lab_dei_EntityAddressCountry_label_en-US" xlink:label="lab_dei_EntityAddressCountry" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Address, Country</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressCountry" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityAddressCountry"/>
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    <link:label id="lab_ifrs-full_ReconciliationOfChangesInIntangibleAssetsOtherThanGoodwillAbstract_019e3b4c-3a5a-7c54-b77f-f5a745828018_terseLabel_en-US" xlink:label="lab_ifrs-full_ReconciliationOfChangesInIntangibleAssetsOtherThanGoodwillAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Reconciliation of changes in intangible assets other than goodwill</link:label>
    <link:label id="lab_ifrs-full_ReconciliationOfChangesInIntangibleAssetsOtherThanGoodwillAbstract_label_en-US" xlink:label="lab_ifrs-full_ReconciliationOfChangesInIntangibleAssetsOtherThanGoodwillAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reconciliation of changes in intangible assets other than goodwill [abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ReconciliationOfChangesInIntangibleAssetsOtherThanGoodwillAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ReconciliationOfChangesInIntangibleAssetsOtherThanGoodwillAbstract"/>
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    <link:label id="lab_bpy_NoncurrentTradePayablesOrOtherNoncurrentPayables_019e3b4c-3a5a-77ce-83ff-4c929aaf5007_terseLabel_en-US" xlink:label="lab_bpy_NoncurrentTradePayablesOrOtherNoncurrentPayables" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loans and notes payable</link:label>
    <link:label id="lab_bpy_NoncurrentTradePayablesOrOtherNoncurrentPayables_label_en-US" xlink:label="lab_bpy_NoncurrentTradePayablesOrOtherNoncurrentPayables" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Noncurrent Trade Payables Or Other Noncurrent Payables</link:label>
    <link:label id="lab_bpy_NoncurrentTradePayablesOrOtherNoncurrentPayables_documentation_en-US" xlink:label="lab_bpy_NoncurrentTradePayablesOrOtherNoncurrentPayables" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Noncurrent Trade Payables Or Other Noncurrent Payables</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_NoncurrentTradePayablesOrOtherNoncurrentPayables" xlink:href="bpy-20260630.xsd#bpy_NoncurrentTradePayablesOrOtherNoncurrentPayables"/>
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    <link:label id="lab_currency_EUR_019e3b4c-3ae9-7069-b9db-b0ef0140a231_terseLabel_en-US" xlink:label="lab_currency_EUR" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Euros</link:label>
    <link:label id="lab_currency_EUR_label_en-US" xlink:label="lab_currency_EUR" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Euro Member Countries, Euro</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_currency_EUR" xlink:href="https://xbrl.sec.gov/currency/2025/currency-2025.xsd#currency_EUR"/>
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    <link:label id="lab_ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillLineItems_019e3b4c-3a5a-7fab-a77e-8983939c0109_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of reconciliation of changes in intangible assets and goodwill [line items]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillLineItems_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of reconciliation of changes in intangible assets and goodwill [line items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillLineItems" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillLineItems"/>
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    <link:label id="lab_ifrs-full_InvestmentsInJointVenturesAccountedForUsingEquityMethod_019e3b4c-3ae9-7de3-8836-537b86d619a4_terseLabel_en-US" xlink:label="lab_ifrs-full_InvestmentsInJointVenturesAccountedForUsingEquityMethod" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investments in joint ventures accounted for using equity method, Carrying value</link:label>
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    <link:label id="lab_ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents_019e3b4c-3a5a-7b97-a6c7-16d05f9dafc2_terseLabel_en-US" xlink:label="lab_ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Effect of exchange rate fluctuations on cash and cash equivalents held in foreign currencies</link:label>
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    <link:label id="lab_bpy_BrookfieldStrategicRealEstatePartnersIIIMember_019e3b4c-3a5a-7cc3-b54d-0f011f7b5b41_terseLabel_en-US" xlink:label="lab_bpy_BrookfieldStrategicRealEstatePartnersIIIMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">BSREP III</link:label>
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    <link:label id="lab_bpy_DisclosureofborrowingcostsAbstract_documentation_en-US" xlink:label="lab_bpy_DisclosureofborrowingcostsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure of borrowing costs [Abstract]</link:label>
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    <link:label id="lab_ifrs-full_NoncurrentContractLiabilities_019e3b4c-3ae9-709c-985b-7f1816cfe6de_terseLabel_en-US" xlink:label="lab_ifrs-full_NoncurrentContractLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred revenue</link:label>
    <link:label id="lab_ifrs-full_NoncurrentContractLiabilities_label_en-US" xlink:label="lab_ifrs-full_NoncurrentContractLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-current contract liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_NoncurrentContractLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_NoncurrentContractLiabilities"/>
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    <link:label id="lab_ifrs-full_RevaluationIncreaseDecreasePropertyPlantAndEquipment_019e3b4c-3ae9-78f2-9346-7740a68cf6a1_verboseLabel_en-US" xlink:label="lab_ifrs-full_RevaluationIncreaseDecreasePropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Revaluation gains, net</link:label>
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    <link:label id="lab_ifrs-full_InvestmentsAccountedForUsingEquityMethodMember_019e3b4c-398b-7c61-9d65-7321962e478f_terseLabel_en-US" xlink:label="lab_ifrs-full_InvestmentsAccountedForUsingEquityMethodMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investments accounted for using equity method</link:label>
    <link:label id="lab_ifrs-full_InvestmentsAccountedForUsingEquityMethodMember_label_en-US" xlink:label="lab_ifrs-full_InvestmentsAccountedForUsingEquityMethodMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investments accounted for using equity method [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_InvestmentsAccountedForUsingEquityMethodMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_InvestmentsAccountedForUsingEquityMethodMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_InvestmentsAccountedForUsingEquityMethodMember" xlink:to="lab_ifrs-full_InvestmentsAccountedForUsingEquityMethodMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_GainsLossesOnCashFlowHedgesNetOfTax_019e3b4c-3ae9-772b-83d5-f0b3fc033cea_terseLabel_en-US" xlink:label="lab_ifrs-full_GainsLossesOnCashFlowHedgesNetOfTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">(Losses) gains on derivatives designated as cash flow hedges, net of income taxes for the three and six months ended Jun. 30, 2026 of $(3) million and $(5) million (2025 &#8211; $(6) million and $(5) million)</link:label>
    <link:label id="lab_ifrs-full_GainsLossesOnCashFlowHedgesNetOfTax_label_en-US" xlink:label="lab_ifrs-full_GainsLossesOnCashFlowHedgesNetOfTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gains (losses) on cash flow hedges, net of tax</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_GainsLossesOnCashFlowHedgesNetOfTax" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_GainsLossesOnCashFlowHedgesNetOfTax"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_GainsLossesOnCashFlowHedgesNetOfTax" xlink:to="lab_ifrs-full_GainsLossesOnCashFlowHedgesNetOfTax" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_OtherHospitalityRevenueMember_019e3b4c-3ae9-796f-b674-270ff5c6aded_terseLabel_en-US" xlink:label="lab_bpy_OtherHospitalityRevenueMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other hospitality revenue</link:label>
    <link:label id="lab_bpy_OtherHospitalityRevenueMember_label_en-US" xlink:label="lab_bpy_OtherHospitalityRevenueMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Hospitality Revenue [Member]</link:label>
    <link:label id="lab_bpy_OtherHospitalityRevenueMember_documentation_en-US" xlink:label="lab_bpy_OtherHospitalityRevenueMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other Hospitality Revenue [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_OtherHospitalityRevenueMember" xlink:href="bpy-20260630.xsd#bpy_OtherHospitalityRevenueMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_OtherHospitalityRevenueMember" xlink:to="lab_bpy_OtherHospitalityRevenueMember" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityCentralIndexKey_019e3b4c-3a5a-7774-b396-29564f73c464_terseLabel_en-US" xlink:label="lab_dei_EntityCentralIndexKey" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Central Index Key</link:label>
    <link:label id="lab_dei_EntityCentralIndexKey_label_en-US" xlink:label="lab_dei_EntityCentralIndexKey" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Central Index Key</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityCentralIndexKey" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityCentralIndexKey"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityCentralIndexKey" xlink:to="lab_dei_EntityCentralIndexKey" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_FVLTIPUnitsOfTheOperatingPartnershipValue_019e3b4c-398b-7d2b-8251-711a5aaaaf04_terseLabel_en-US" xlink:label="lab_bpy_FVLTIPUnitsOfTheOperatingPartnershipValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">FV LTIP units of the Operating Partnership</link:label>
    <link:label id="lab_bpy_FVLTIPUnitsOfTheOperatingPartnershipValue_label_en-US" xlink:label="lab_bpy_FVLTIPUnitsOfTheOperatingPartnershipValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">FV LTIP Units of the Operating Partnership, value</link:label>
    <link:label id="lab_bpy_FVLTIPUnitsOfTheOperatingPartnershipValue_documentation_en-US" xlink:label="lab_bpy_FVLTIPUnitsOfTheOperatingPartnershipValue" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">FV LTIP Units of the Operating Partnership, value</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_FVLTIPUnitsOfTheOperatingPartnershipValue" xlink:href="bpy-20260630.xsd#bpy_FVLTIPUnitsOfTheOperatingPartnershipValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_FVLTIPUnitsOfTheOperatingPartnershipValue" xlink:to="lab_bpy_FVLTIPUnitsOfTheOperatingPartnershipValue" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_InvestmentPropertyUnderConstructionOrDevelopmentMember_019e3b4c-398c-7e40-bd73-7d42905a0b9d_terseLabel_en-US" xlink:label="lab_ifrs-full_InvestmentPropertyUnderConstructionOrDevelopmentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commercial developments</link:label>
    <link:label id="lab_ifrs-full_InvestmentPropertyUnderConstructionOrDevelopmentMember_label_en-US" xlink:label="lab_ifrs-full_InvestmentPropertyUnderConstructionOrDevelopmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment property under construction or development [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_InvestmentPropertyUnderConstructionOrDevelopmentMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_InvestmentPropertyUnderConstructionOrDevelopmentMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_InvestmentPropertyUnderConstructionOrDevelopmentMember" xlink:to="lab_ifrs-full_InvestmentPropertyUnderConstructionOrDevelopmentMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ProfessionalFeesExpense_019e3b4c-3ae9-74b5-8aef-97987cb53761_terseLabel_en-US" xlink:label="lab_ifrs-full_ProfessionalFeesExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Professional fees</link:label>
    <link:label id="lab_ifrs-full_ProfessionalFeesExpense_label_en-US" xlink:label="lab_ifrs-full_ProfessionalFeesExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Professional fees expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ProfessionalFeesExpense" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ProfessionalFeesExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ProfessionalFeesExpense" xlink:to="lab_ifrs-full_ProfessionalFeesExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_NoncontrollingInterestInOperatingPartnership_019e3b4c-3ae8-7fb4-a48c-4de8b39cb4e1_terseLabel_en-US" xlink:label="lab_bpy_NoncontrollingInterestInOperatingPartnership" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">FV LTIP units of the Operating Partnership</link:label>
    <link:label id="lab_bpy_NoncontrollingInterestInOperatingPartnership_label_en-US" xlink:label="lab_bpy_NoncontrollingInterestInOperatingPartnership" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Noncontrolling Interest In Operating Partnership</link:label>
    <link:label id="lab_bpy_NoncontrollingInterestInOperatingPartnership_documentation_en-US" xlink:label="lab_bpy_NoncontrollingInterestInOperatingPartnership" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Noncontrolling Interest In Operating Partnership</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_NoncontrollingInterestInOperatingPartnership" xlink:href="bpy-20260630.xsd#bpy_NoncontrollingInterestInOperatingPartnership"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_NoncontrollingInterestInOperatingPartnership" xlink:to="lab_bpy_NoncontrollingInterestInOperatingPartnership" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ValuationTechniquesUsedInFairValueMeasurementAxis_019e3b4c-3a5a-7c52-9986-99f106cc891c_terseLabel_en-US" xlink:label="lab_ifrs-full_ValuationTechniquesUsedInFairValueMeasurementAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Valuation techniques used in fair value measurement [axis]</link:label>
    <link:label id="lab_ifrs-full_ValuationTechniquesUsedInFairValueMeasurementAxis_label_en-US" xlink:label="lab_ifrs-full_ValuationTechniquesUsedInFairValueMeasurementAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Valuation techniques used in fair value measurement [axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ValuationTechniquesUsedInFairValueMeasurementAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ValuationTechniquesUsedInFairValueMeasurementAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ValuationTechniquesUsedInFairValueMeasurementAxis" xlink:to="lab_ifrs-full_ValuationTechniquesUsedInFairValueMeasurementAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ProfitLossAttributableToAbstract_019e3b4c-3a5a-79b5-a8a6-659a24acaf4a_terseLabel_en-US" xlink:label="lab_ifrs-full_ProfitLossAttributableToAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net income (loss) attributable to:</link:label>
    <link:label id="lab_ifrs-full_ProfitLossAttributableToAbstract_label_en-US" xlink:label="lab_ifrs-full_ProfitLossAttributableToAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Profit (loss), attributable to [abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ProfitLossAttributableToAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ProfitLossAttributableToAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ProfitLossAttributableToAbstract" xlink:to="lab_ifrs-full_ProfitLossAttributableToAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_OfficeBuildingMember_019e3b4c-398b-70cc-b984-18db043fdb33_terseLabel_en-US" xlink:label="lab_srt_OfficeBuildingMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Office</link:label>
    <link:label id="lab_srt_OfficeBuildingMember_label_en-US" xlink:label="lab_srt_OfficeBuildingMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Office Building [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_OfficeBuildingMember" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_OfficeBuildingMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_OfficeBuildingMember" xlink:to="lab_srt_OfficeBuildingMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ProfitLossOfCombinedEntity_019e3b4c-398b-778e-87a3-dd573c8d4233_terseLabel_en-US" xlink:label="lab_ifrs-full_ProfitLossOfCombinedEntity" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Partnership's total net (loss) income</link:label>
    <link:label id="lab_ifrs-full_ProfitLossOfCombinedEntity_label_en-US" xlink:label="lab_ifrs-full_ProfitLossOfCombinedEntity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Profit (loss) of combined entity as if combination occurred at beginning of period</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ProfitLossOfCombinedEntity" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ProfitLossOfCombinedEntity"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ProfitLossOfCombinedEntity" xlink:to="lab_ifrs-full_ProfitLossOfCombinedEntity" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_EquityAndLiabilitiesAbstract_019e3b4c-3ae9-7ed0-96f8-826e85e1e1e1_terseLabel_en-US" xlink:label="lab_ifrs-full_EquityAndLiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Liabilities and equity</link:label>
    <link:label id="lab_ifrs-full_EquityAndLiabilitiesAbstract_label_en-US" xlink:label="lab_ifrs-full_EquityAndLiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity and liabilities [abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_EquityAndLiabilitiesAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_EquityAndLiabilitiesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_EquityAndLiabilitiesAbstract" xlink:to="lab_ifrs-full_EquityAndLiabilitiesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ReconciliationOfChangesInPropertyPlantAndEquipmentAbstract_019e3b4c-3a5a-7cf6-846c-dee1bee557ee_terseLabel_en-US" xlink:label="lab_ifrs-full_ReconciliationOfChangesInPropertyPlantAndEquipmentAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Reconciliation of changes in property, plant and equipment [abstract]</link:label>
    <link:label id="lab_ifrs-full_ReconciliationOfChangesInPropertyPlantAndEquipmentAbstract_label_en-US" xlink:label="lab_ifrs-full_ReconciliationOfChangesInPropertyPlantAndEquipmentAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reconciliation of changes in property, plant and equipment [abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ReconciliationOfChangesInPropertyPlantAndEquipmentAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ReconciliationOfChangesInPropertyPlantAndEquipmentAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ReconciliationOfChangesInPropertyPlantAndEquipmentAbstract" xlink:to="lab_ifrs-full_ReconciliationOfChangesInPropertyPlantAndEquipmentAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DiscountedCashFlowMember_019e3b4c-398b-725e-97e8-e5f6f85beec6_verboseLabel_en-US" xlink:label="lab_ifrs-full_DiscountedCashFlowMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Discounted cash flow</link:label>
    <link:label id="lab_ifrs-full_DiscountedCashFlowMember_label_en-US" xlink:label="lab_ifrs-full_DiscountedCashFlowMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Discounted cash flow [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DiscountedCashFlowMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DiscountedCashFlowMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DiscountedCashFlowMember" xlink:to="lab_ifrs-full_DiscountedCashFlowMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_A5.750ClassACumulativeRedeemablePerpetualUnitsSeries3Member_019eda96-81a4-7103-b27f-eddc09341b9b_terseLabel_en-US" xlink:label="lab_bpy_A5.750ClassACumulativeRedeemablePerpetualUnitsSeries3Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">5.750% Class A Cumulative Redeemable Perpetual Units, Series 3</link:label>
    <link:label id="lab_bpy_A5.750ClassACumulativeRedeemablePerpetualUnitsSeries3Member_label_en-US" xlink:label="lab_bpy_A5.750ClassACumulativeRedeemablePerpetualUnitsSeries3Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">5.750% Class A Cumulative Redeemable Perpetual Units, Series 3 [Member]</link:label>
    <link:label id="lab_bpy_A5.750ClassACumulativeRedeemablePerpetualUnitsSeries3Member_documentation_en-US" xlink:label="lab_bpy_A5.750ClassACumulativeRedeemablePerpetualUnitsSeries3Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">5.750% Class A Cumulative Redeemable Perpetual Units, Series 3</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_A5.750ClassACumulativeRedeemablePerpetualUnitsSeries3Member" xlink:href="bpy-20260630.xsd#bpy_A5.750ClassACumulativeRedeemablePerpetualUnitsSeries3Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_A5.750ClassACumulativeRedeemablePerpetualUnitsSeries3Member" xlink:to="lab_bpy_A5.750ClassACumulativeRedeemablePerpetualUnitsSeries3Member" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_FundSubsidiariesMember_019e3b4c-3a5a-750c-b408-44492b7da60c_terseLabel_en-US" xlink:label="lab_bpy_FundSubsidiariesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Capital Securities &#8211; Fund Subsidiaries</link:label>
    <link:label id="lab_bpy_FundSubsidiariesMember_label_en-US" xlink:label="lab_bpy_FundSubsidiariesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fund Subsidiaries [Member]</link:label>
    <link:label id="lab_bpy_FundSubsidiariesMember_documentation_en-US" xlink:label="lab_bpy_FundSubsidiariesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Fund Subsidiaries [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_FundSubsidiariesMember" xlink:href="bpy-20260630.xsd#bpy_FundSubsidiariesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_FundSubsidiariesMember" xlink:to="lab_bpy_FundSubsidiariesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_currency_CNY_019e3b4c-3ae9-7aa4-a92f-52f77cf013da_terseLabel_en-US" xlink:label="lab_currency_CNY" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Chinese Yuan</link:label>
    <link:label id="lab_currency_CNY_label_en-US" xlink:label="lab_currency_CNY" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">China, Yuan Renminbi</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_currency_CNY" xlink:href="https://xbrl.sec.gov/currency/2025/currency-2025.xsd#currency_CNY"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_currency_CNY" xlink:to="lab_currency_CNY" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_TransfersOutOfLevel3OfFairValueHierarchyLiabilities_019fb607-867a-70cd-a6a5-b91a752197d7_negatedLabel_en-US" xlink:label="lab_ifrs-full_TransfersOutOfLevel3OfFairValueHierarchyLiabilities" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Reclassification of Opportunistic Fund Investments to assets and liabilities held for sale</link:label>
    <link:label id="lab_ifrs-full_TransfersOutOfLevel3OfFairValueHierarchyLiabilities_label_en-US" xlink:label="lab_ifrs-full_TransfersOutOfLevel3OfFairValueHierarchyLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Transfers out of Level 3 of fair value hierarchy, liabilities</link:label>
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    <link:label id="lab_bpy_ReclassificationAdjustmentsToFromAssetsHeldForSaleNet_label_en-US" xlink:label="lab_bpy_ReclassificationAdjustmentsToFromAssetsHeldForSaleNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reclassification Adjustments To/(From) Assets Held For Sale, Net</link:label>
    <link:label id="lab_bpy_ReclassificationAdjustmentsToFromAssetsHeldForSaleNet_documentation_en-US" xlink:label="lab_bpy_ReclassificationAdjustmentsToFromAssetsHeldForSaleNet" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Reclassification Adjustments To/(From) Assets Held For Sale, Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_ReclassificationAdjustmentsToFromAssetsHeldForSaleNet" xlink:href="bpy-20260630.xsd#bpy_ReclassificationAdjustmentsToFromAssetsHeldForSaleNet"/>
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    <link:label id="lab_bpy_NoncontrollingInterestsAbstract_019e3b4c-3ae9-7818-8aa9-23a55ab2dcd6_netLabel_en-US" xlink:label="lab_bpy_NoncontrollingInterestsAbstract" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Non-controlling interests attributable to:</link:label>
    <link:label id="lab_bpy_NoncontrollingInterestsAbstract_019e3b4c-3ae9-7ff6-905b-fbdce571b5ef_terseLabel_en-US" xlink:label="lab_bpy_NoncontrollingInterestsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-controlling interests attributable to:</link:label>
    <link:label id="lab_bpy_NoncontrollingInterestsAbstract_019e3b4c-3ae9-7d77-92d6-b55d8fdaadec_verboseLabel_en-US" xlink:label="lab_bpy_NoncontrollingInterestsAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Non-controlling interests</link:label>
    <link:label id="lab_bpy_NoncontrollingInterestsAbstract_label_en-US" xlink:label="lab_bpy_NoncontrollingInterestsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Noncontrolling Interests [Abstract]</link:label>
    <link:label id="lab_bpy_NoncontrollingInterestsAbstract_documentation_en-US" xlink:label="lab_bpy_NoncontrollingInterestsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Noncontrolling Interests [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_NoncontrollingInterestsAbstract" xlink:href="bpy-20260630.xsd#bpy_NoncontrollingInterestsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_NoncontrollingInterestsAbstract" xlink:to="lab_bpy_NoncontrollingInterestsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_LeaseTerminationRevenue_019e3b4c-3a5a-794c-8410-58af6aace217_terseLabel_en-US" xlink:label="lab_bpy_LeaseTerminationRevenue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Lease termination</link:label>
    <link:label id="lab_bpy_LeaseTerminationRevenue_label_en-US" xlink:label="lab_bpy_LeaseTerminationRevenue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lease Termination Revenue</link:label>
    <link:label id="lab_bpy_LeaseTerminationRevenue_documentation_en-US" xlink:label="lab_bpy_LeaseTerminationRevenue" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Lease Termination Revenue</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_LeaseTerminationRevenue" xlink:href="bpy-20260630.xsd#bpy_LeaseTerminationRevenue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_LeaseTerminationRevenue" xlink:to="lab_bpy_LeaseTerminationRevenue" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment_019e3b4c-3a5a-7da4-ada6-ac0ee214c30c_terseLabel_en-US" xlink:label="lab_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Additions</link:label>
    <link:label id="lab_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment_label_en-US" xlink:label="lab_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Additions other than through business combinations, property, plant and equipment</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:to="lab_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_UKAndIrelandShortStayRealEstateSubsidiaryMember_019e3b4c-3a5a-7133-b8d5-82a09050a1fb_terseLabel_en-US" xlink:label="lab_bpy_UKAndIrelandShortStayRealEstateSubsidiaryMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">UK and Ireland Short Stay Real Estate Subsidiary</link:label>
    <link:label id="lab_bpy_UKAndIrelandShortStayRealEstateSubsidiaryMember_label_en-US" xlink:label="lab_bpy_UKAndIrelandShortStayRealEstateSubsidiaryMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">UK And Ireland Short Stay Real Estate Subsidiary [Member]</link:label>
    <link:label id="lab_bpy_UKAndIrelandShortStayRealEstateSubsidiaryMember_documentation_en-US" xlink:label="lab_bpy_UKAndIrelandShortStayRealEstateSubsidiaryMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">UK And Ireland Short Stay Real Estate Subsidiary</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_UKAndIrelandShortStayRealEstateSubsidiaryMember" xlink:href="bpy-20260630.xsd#bpy_UKAndIrelandShortStayRealEstateSubsidiaryMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_UKAndIrelandShortStayRealEstateSubsidiaryMember" xlink:to="lab_bpy_UKAndIrelandShortStayRealEstateSubsidiaryMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_NominalAmountOfHedgingInstrument_019e3b4c-3a5a-7e9c-ba53-94e5eb9062a4_terseLabel_en-US" xlink:label="lab_ifrs-full_NominalAmountOfHedgingInstrument" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Notional</link:label>
    <link:label id="lab_ifrs-full_NominalAmountOfHedgingInstrument_label_en-US" xlink:label="lab_ifrs-full_NominalAmountOfHedgingInstrument" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Nominal amount of hedging instrument</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_NominalAmountOfHedgingInstrument" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_NominalAmountOfHedgingInstrument"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_NominalAmountOfHedgingInstrument" xlink:to="lab_ifrs-full_NominalAmountOfHedgingInstrument" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_StatementOfCashFlowsLineItems_019e3b4c-3a5a-7ff7-ae62-358be1def212_terseLabel_en-US" xlink:label="lab_bpy_StatementOfCashFlowsLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statement of Cash Flows [Line Items]</link:label>
    <link:label id="lab_bpy_StatementOfCashFlowsLineItems_label_en-US" xlink:label="lab_bpy_StatementOfCashFlowsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of Cash Flows [Line Items]</link:label>
    <link:label id="lab_bpy_StatementOfCashFlowsLineItems_documentation_en-US" xlink:label="lab_bpy_StatementOfCashFlowsLineItems" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Statement of Cash Flows</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_StatementOfCashFlowsLineItems" xlink:href="bpy-20260630.xsd#bpy_StatementOfCashFlowsLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_StatementOfCashFlowsLineItems" xlink:to="lab_bpy_StatementOfCashFlowsLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherCurrentReceivables_019e3b4c-3a5a-71af-b4fa-2ed2894f6c8d_terseLabel_en-US" xlink:label="lab_ifrs-full_OtherCurrentReceivables" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loans and notes receivable</link:label>
    <link:label id="lab_ifrs-full_OtherCurrentReceivables_label_en-US" xlink:label="lab_ifrs-full_OtherCurrentReceivables" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other current receivables</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherCurrentReceivables" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_OtherCurrentReceivables"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherCurrentReceivables" xlink:to="lab_ifrs-full_OtherCurrentReceivables" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_AggregatedIndividuallyImmaterialBusinessCombinationsMember_019e3b4c-398b-7ace-b74f-79fdbebe28c8_terseLabel_en-US" xlink:label="lab_ifrs-full_AggregatedIndividuallyImmaterialBusinessCombinationsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other</link:label>
    <link:label id="lab_ifrs-full_AggregatedIndividuallyImmaterialBusinessCombinationsMember_label_en-US" xlink:label="lab_ifrs-full_AggregatedIndividuallyImmaterialBusinessCombinationsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Aggregated individually immaterial business combinations [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AggregatedIndividuallyImmaterialBusinessCombinationsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_AggregatedIndividuallyImmaterialBusinessCombinationsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AggregatedIndividuallyImmaterialBusinessCombinationsMember" xlink:to="lab_ifrs-full_AggregatedIndividuallyImmaterialBusinessCombinationsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_DisclosureOfAccountsReceivableAndOtherTableTextBlock_019e3b4c-3ae9-7787-a0e9-164974e9af53_terseLabel_en-US" xlink:label="lab_bpy_DisclosureOfAccountsReceivableAndOtherTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Accounts Receivable and Other</link:label>
    <link:label id="lab_bpy_DisclosureOfAccountsReceivableAndOtherTableTextBlock_label_en-US" xlink:label="lab_bpy_DisclosureOfAccountsReceivableAndOtherTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure Of Accounts Receivable And Other [Table Text Block]</link:label>
    <link:label id="lab_bpy_DisclosureOfAccountsReceivableAndOtherTableTextBlock_documentation_en-US" xlink:label="lab_bpy_DisclosureOfAccountsReceivableAndOtherTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure Of Accounts Receivable And Other [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_DisclosureOfAccountsReceivableAndOtherTableTextBlock" xlink:href="bpy-20260630.xsd#bpy_DisclosureOfAccountsReceivableAndOtherTableTextBlock"/>
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    <link:label id="lab_dei_EntityAddressAddressLine1_019e3b4c-3ae9-7670-ab58-aed878a1f681_terseLabel_en-US" xlink:label="lab_dei_EntityAddressAddressLine1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Address, Address Line One</link:label>
    <link:label id="lab_dei_EntityAddressAddressLine1_label_en-US" xlink:label="lab_dei_EntityAddressAddressLine1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Address, Address Line One</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressAddressLine1" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityAddressAddressLine1"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityAddressAddressLine1" xlink:to="lab_dei_EntityAddressAddressLine1" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityAddressAddressLine2_019e3b4c-3a5a-7269-9a9c-93b8fe2bed09_terseLabel_en-US" xlink:label="lab_dei_EntityAddressAddressLine2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Address, Address Line Two</link:label>
    <link:label id="lab_dei_EntityAddressAddressLine2_label_en-US" xlink:label="lab_dei_EntityAddressAddressLine2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Address, Address Line Two</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressAddressLine2" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityAddressAddressLine2"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityAddressAddressLine2" xlink:to="lab_dei_EntityAddressAddressLine2" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_CapitalSecuritiesOfFundSubsidiariesMember_019e3b4c-3ae9-73c3-85e7-bc01c92a8647_terseLabel_en-US" xlink:label="lab_bpy_CapitalSecuritiesOfFundSubsidiariesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Capital securities - fund subsidiaries</link:label>
    <link:label id="lab_bpy_CapitalSecuritiesOfFundSubsidiariesMember_label_en-US" xlink:label="lab_bpy_CapitalSecuritiesOfFundSubsidiariesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Capital Securities Of Fund Subsidiaries [Member]</link:label>
    <link:label id="lab_bpy_CapitalSecuritiesOfFundSubsidiariesMember_documentation_en-US" xlink:label="lab_bpy_CapitalSecuritiesOfFundSubsidiariesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Capital Securities Of Fund Subsidiaries [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_CapitalSecuritiesOfFundSubsidiariesMember" xlink:href="bpy-20260630.xsd#bpy_CapitalSecuritiesOfFundSubsidiariesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_CapitalSecuritiesOfFundSubsidiariesMember" xlink:to="lab_bpy_CapitalSecuritiesOfFundSubsidiariesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_FacilitiesAndTechnologyFees_019e3b4c-398c-7100-9a69-4d70d87d3a8c_terseLabel_en-US" xlink:label="lab_bpy_FacilitiesAndTechnologyFees" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Facilities and technology</link:label>
    <link:label id="lab_bpy_FacilitiesAndTechnologyFees_label_en-US" xlink:label="lab_bpy_FacilitiesAndTechnologyFees" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Facilities And Technology Fees</link:label>
    <link:label id="lab_bpy_FacilitiesAndTechnologyFees_documentation_en-US" xlink:label="lab_bpy_FacilitiesAndTechnologyFees" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Facilities And Technology Fees</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_FacilitiesAndTechnologyFees" xlink:href="bpy-20260630.xsd#bpy_FacilitiesAndTechnologyFees"/>
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    <link:label id="lab_srt_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_019fb5fb-d733-7a78-9618-679eb3b8911f_terseLabel_en-US" xlink:label="lab_srt_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Name of Property [Domain]</link:label>
    <link:label id="lab_srt_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_label_en-US" xlink:label="lab_srt_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Name of Property [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain" xlink:to="lab_srt_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_BrookfieldIndiaRealEstateTrustMember_019e3b4c-398c-77c1-836a-bddbdc218671_terseLabel_en-US" xlink:label="lab_bpy_BrookfieldIndiaRealEstateTrustMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">BSREP II Brazil Office Preferred Shares</link:label>
    <link:label id="lab_bpy_BrookfieldIndiaRealEstateTrustMember_label_en-US" xlink:label="lab_bpy_BrookfieldIndiaRealEstateTrustMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Brookfield India Real Estate Trust [Member]</link:label>
    <link:label id="lab_bpy_BrookfieldIndiaRealEstateTrustMember_documentation_en-US" xlink:label="lab_bpy_BrookfieldIndiaRealEstateTrustMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Brookfield India Real Estate Trust</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_BrookfieldIndiaRealEstateTrustMember" xlink:href="bpy-20260630.xsd#bpy_BrookfieldIndiaRealEstateTrustMember"/>
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    <link:label id="lab_ifrs-full_ConsolidatedStructuredEntitiesDomain_019e3b4c-3a5a-7c53-bbc1-d98e41824947_terseLabel_en-US" xlink:label="lab_ifrs-full_ConsolidatedStructuredEntitiesDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Consolidated structured entities [domain]</link:label>
    <link:label id="lab_ifrs-full_ConsolidatedStructuredEntitiesDomain_label_en-US" xlink:label="lab_ifrs-full_ConsolidatedStructuredEntitiesDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Consolidated structured entities [domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ConsolidatedStructuredEntitiesDomain" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ConsolidatedStructuredEntitiesDomain"/>
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    <link:label id="lab_bpy_OtherLeaseIncome_019e3b4c-3ae9-7a53-bf8f-581ec7b8378d_terseLabel_en-US" xlink:label="lab_bpy_OtherLeaseIncome" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other lease income</link:label>
    <link:label id="lab_bpy_OtherLeaseIncome_label_en-US" xlink:label="lab_bpy_OtherLeaseIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Lease Income</link:label>
    <link:label id="lab_bpy_OtherLeaseIncome_documentation_en-US" xlink:label="lab_bpy_OtherLeaseIncome" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other Lease Income</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_OtherLeaseIncome" xlink:href="bpy-20260630.xsd#bpy_OtherLeaseIncome"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_OtherLeaseIncome" xlink:to="lab_bpy_OtherLeaseIncome" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_StatementOfCashFlowsAbstract_019e3b4c-3a5a-78ce-aa75-a7530a16c84c_terseLabel_en-US" xlink:label="lab_ifrs-full_StatementOfCashFlowsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statement of cash flows [abstract]</link:label>
    <link:label id="lab_ifrs-full_StatementOfCashFlowsAbstract_label_en-US" xlink:label="lab_ifrs-full_StatementOfCashFlowsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of cash flows [abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_StatementOfCashFlowsAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_StatementOfCashFlowsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_StatementOfCashFlowsAbstract" xlink:to="lab_ifrs-full_StatementOfCashFlowsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfFinancialAssetsTable_019e3b4c-3a5a-71fe-a457-96459a7b43a0_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfFinancialAssetsTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of financial assets [table]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfFinancialAssetsTable_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfFinancialAssetsTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of financial assets [table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfFinancialAssetsTable" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfFinancialAssetsTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfFinancialAssetsTable" xlink:to="lab_ifrs-full_DisclosureOfFinancialAssetsTable" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_OtherAssetAdjustments_019e3b4c-3a5a-7339-8d84-d29d06123110_terseLabel_en-US" xlink:label="lab_bpy_OtherAssetAdjustments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other</link:label>
    <link:label id="lab_bpy_OtherAssetAdjustments_label_en-US" xlink:label="lab_bpy_OtherAssetAdjustments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Asset Adjustments</link:label>
    <link:label id="lab_bpy_OtherAssetAdjustments_documentation_en-US" xlink:label="lab_bpy_OtherAssetAdjustments" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other Asset Adjustments</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_OtherAssetAdjustments" xlink:href="bpy-20260630.xsd#bpy_OtherAssetAdjustments"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_OtherAssetAdjustments" xlink:to="lab_bpy_OtherAssetAdjustments" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_DisclosureofOtherAssetsNoncurrentTableTextBlock_019e3b4c-3a5a-72b0-9325-e833f8d1becb_terseLabel_en-US" xlink:label="lab_bpy_DisclosureofOtherAssetsNoncurrentTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Other Non-current Assets</link:label>
    <link:label id="lab_bpy_DisclosureofOtherAssetsNoncurrentTableTextBlock_label_en-US" xlink:label="lab_bpy_DisclosureofOtherAssetsNoncurrentTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of Other Assets, Noncurrent [Table Text Block]</link:label>
    <link:label id="lab_bpy_DisclosureofOtherAssetsNoncurrentTableTextBlock_documentation_en-US" xlink:label="lab_bpy_DisclosureofOtherAssetsNoncurrentTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure of Other Assets, Noncurrent [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_DisclosureofOtherAssetsNoncurrentTableTextBlock" xlink:href="bpy-20260630.xsd#bpy_DisclosureofOtherAssetsNoncurrentTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_DisclosureofOtherAssetsNoncurrentTableTextBlock" xlink:to="lab_bpy_DisclosureofOtherAssetsNoncurrentTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_LoanPayableMember_019e3b4c-3ae9-7ebf-b62f-564da3c627f8_terseLabel_en-US" xlink:label="lab_bpy_LoanPayableMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loan payable</link:label>
    <link:label id="lab_bpy_LoanPayableMember_label_en-US" xlink:label="lab_bpy_LoanPayableMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loan Payable [Member]</link:label>
    <link:label id="lab_bpy_LoanPayableMember_documentation_en-US" xlink:label="lab_bpy_LoanPayableMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Loan Payable [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_LoanPayableMember" xlink:href="bpy-20260630.xsd#bpy_LoanPayableMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_LoanPayableMember" xlink:to="lab_bpy_LoanPayableMember" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_RepurchaseAgreementCounterpartyNameDomain_019edb55-4f86-7438-9620-b53518b2374f_terseLabel_en-US" xlink:label="lab_srt_RepurchaseAgreementCounterpartyNameDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Counterparty Name [Domain]</link:label>
    <link:label id="lab_srt_RepurchaseAgreementCounterpartyNameDomain_label_en-US" xlink:label="lab_srt_RepurchaseAgreementCounterpartyNameDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Counterparty Name [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_RepurchaseAgreementCounterpartyNameDomain" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_RepurchaseAgreementCounterpartyNameDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_RepurchaseAgreementCounterpartyNameDomain" xlink:to="lab_srt_RepurchaseAgreementCounterpartyNameDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_BorrowingsForeignCurrencyTranslationAdjustment_019e3b4c-3a5a-74c8-89fc-50f229320279_terseLabel_en-US" xlink:label="lab_bpy_BorrowingsForeignCurrencyTranslationAdjustment" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Foreign currency translation</link:label>
    <link:label id="lab_bpy_BorrowingsForeignCurrencyTranslationAdjustment_label_en-US" xlink:label="lab_bpy_BorrowingsForeignCurrencyTranslationAdjustment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Borrowings, Foreign Currency Translation Adjustment</link:label>
    <link:label id="lab_bpy_BorrowingsForeignCurrencyTranslationAdjustment_documentation_en-US" xlink:label="lab_bpy_BorrowingsForeignCurrencyTranslationAdjustment" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Borrowings, Foreign Currency Translation Adjustment</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_BorrowingsForeignCurrencyTranslationAdjustment" xlink:href="bpy-20260630.xsd#bpy_BorrowingsForeignCurrencyTranslationAdjustment"/>
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    <link:label id="lab_bpy_AdjustmentsForGainsLossesOnFairValueAdjustmentIncentiveFees_019e3b4c-398b-7e94-bff3-6d5d65ce372e_terseLabel_en-US" xlink:label="lab_bpy_AdjustmentsForGainsLossesOnFairValueAdjustmentIncentiveFees" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Incentive fees</link:label>
    <link:label id="lab_bpy_AdjustmentsForGainsLossesOnFairValueAdjustmentIncentiveFees_label_en-US" xlink:label="lab_bpy_AdjustmentsForGainsLossesOnFairValueAdjustmentIncentiveFees" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustments For Gains (Losses) on Fair Value Adjustment, Incentive Fees</link:label>
    <link:label id="lab_bpy_AdjustmentsForGainsLossesOnFairValueAdjustmentIncentiveFees_documentation_en-US" xlink:label="lab_bpy_AdjustmentsForGainsLossesOnFairValueAdjustmentIncentiveFees" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Adjustments For Gains (Losses) on Fair Value Adjustment, Incentive Fees</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_AdjustmentsForGainsLossesOnFairValueAdjustmentIncentiveFees" xlink:href="bpy-20260630.xsd#bpy_AdjustmentsForGainsLossesOnFairValueAdjustmentIncentiveFees"/>
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    <link:label id="lab_bpy_SeriesAPreferredSharesMember_019e3b4c-3a5a-70d2-bcfb-cd638e305276_terseLabel_en-US" xlink:label="lab_bpy_SeriesAPreferredSharesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Series A Preferred Shares</link:label>
    <link:label id="lab_bpy_SeriesAPreferredSharesMember_label_en-US" xlink:label="lab_bpy_SeriesAPreferredSharesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Series A Preferred Shares [Member]</link:label>
    <link:label id="lab_bpy_SeriesAPreferredSharesMember_documentation_en-US" xlink:label="lab_bpy_SeriesAPreferredSharesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Series A Preferred Shares [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_SeriesAPreferredSharesMember" xlink:href="bpy-20260630.xsd#bpy_SeriesAPreferredSharesMember"/>
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    <link:label id="lab_ifrs-full_CurrentLiabilitiesAbstract_019e3b4c-398b-7ca1-9bf7-0f25c4085edf_terseLabel_en-US" xlink:label="lab_ifrs-full_CurrentLiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Current liabilities</link:label>
    <link:label id="lab_ifrs-full_CurrentLiabilitiesAbstract_label_en-US" xlink:label="lab_ifrs-full_CurrentLiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current liabilities [abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CurrentLiabilitiesAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_CurrentLiabilitiesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CurrentLiabilitiesAbstract" xlink:to="lab_ifrs-full_CurrentLiabilitiesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_InvestmentAccountedForUsingEquityMethod_019e3b4c-3a5a-7164-b92f-f66086277670_terseLabel_en-US" xlink:label="lab_ifrs-full_InvestmentAccountedForUsingEquityMethod" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity accounted investments</link:label>
    <link:label id="lab_ifrs-full_InvestmentAccountedForUsingEquityMethod_019e3b4c-3a5a-7f34-ba2b-365a06d80e9f_totalLabel_en-US" xlink:label="lab_ifrs-full_InvestmentAccountedForUsingEquityMethod" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Investments in joint ventures and associates</link:label>
    <link:label id="lab_ifrs-full_InvestmentAccountedForUsingEquityMethod_019e3b4c-3a5a-7c56-a946-7496f88a123d_periodStartLabel_en-US" xlink:label="lab_ifrs-full_InvestmentAccountedForUsingEquityMethod" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Equity accounted investments, beginning of period</link:label>
    <link:label id="lab_ifrs-full_InvestmentAccountedForUsingEquityMethod_019e3b4c-3a5a-729b-9d95-29f263d60e72_periodEndLabel_en-US" xlink:label="lab_ifrs-full_InvestmentAccountedForUsingEquityMethod" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Equity accounted investments, end of period</link:label>
    <link:label id="lab_ifrs-full_InvestmentAccountedForUsingEquityMethod_019e3b4c-3a5a-7237-93cb-3b9c507adacb_netLabel_en-US" xlink:label="lab_ifrs-full_InvestmentAccountedForUsingEquityMethod" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Partnership&#8217;s share of net assets</link:label>
    <link:label id="lab_ifrs-full_InvestmentAccountedForUsingEquityMethod_label_en-US" xlink:label="lab_ifrs-full_InvestmentAccountedForUsingEquityMethod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investments accounted for using equity method</link:label>
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    <link:label id="lab_ifrs-full_PurchasesFairValueMeasurementLiabilities_019e3b4c-3ae9-730f-a1c8-4c14134fa4bc_terseLabel_en-US" xlink:label="lab_ifrs-full_PurchasesFairValueMeasurementLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Acquisitions</link:label>
    <link:label id="lab_ifrs-full_PurchasesFairValueMeasurementLiabilities_label_en-US" xlink:label="lab_ifrs-full_PurchasesFairValueMeasurementLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Purchases, fair value measurement, liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_PurchasesFairValueMeasurementLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_PurchasesFairValueMeasurementLiabilities"/>
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    <link:label id="lab_bpy_NumberOfReportableSegments1_label_en-US" xlink:label="lab_bpy_NumberOfReportableSegments1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number Of Reportable Segments1</link:label>
    <link:label id="lab_bpy_NumberOfReportableSegments1_documentation_en-US" xlink:label="lab_bpy_NumberOfReportableSegments1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number Of Reportable Segments1</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_NumberOfReportableSegments1" xlink:href="bpy-20260630.xsd#bpy_NumberOfReportableSegments1"/>
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    <link:label id="lab_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems_019e3b4c-3ae9-7308-8609-00ad28762816_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of transactions between related parties [line items]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of transactions between related parties [line items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems"/>
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    <link:label id="lab_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems_019e3b4c-3ae9-7d43-9ebb-8735c19519f5_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of fair value measurement of assets [line items]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of fair value measurement of assets [line items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems"/>
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    <link:label id="lab_ifrs-full_OtherComprehensiveIncomeAbstract_label_en-US" xlink:label="lab_ifrs-full_OtherComprehensiveIncomeAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other comprehensive income [abstract]</link:label>
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    <link:label id="lab_bpy_BorrowingRollForward_019e3b4c-3a5a-7e2f-935f-6663d7dd9f6b_terseLabel_en-US" xlink:label="lab_bpy_BorrowingRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Borrowing [Roll Forward]</link:label>
    <link:label id="lab_bpy_BorrowingRollForward_label_en-US" xlink:label="lab_bpy_BorrowingRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Borrowing [Roll Forward]</link:label>
    <link:label id="lab_bpy_BorrowingRollForward_documentation_en-US" xlink:label="lab_bpy_BorrowingRollForward" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Borrowing [Roll Forward]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_BorrowingRollForward" xlink:href="bpy-20260630.xsd#bpy_BorrowingRollForward"/>
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    <link:label id="lab_ifrs-full_PurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod_019e3b4c-398c-7aae-821c-5fdbe9b210f0_negatedTerseLabel_en-US" xlink:label="lab_ifrs-full_PurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Equity accounted investments</link:label>
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    <link:label id="lab_ifrs-full_ClassesOfFinancialLiabilitiesDomain_label_en-US" xlink:label="lab_ifrs-full_ClassesOfFinancialLiabilitiesDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Classes of financial liabilities [domain]</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_NoncurrentProvisions" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_NoncurrentProvisions"/>
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    <link:label id="lab_bpy_InvestmentsAccountedForUsingTheEquityMethodImpactOfDeconsolidation_documentation_en-US" xlink:label="lab_bpy_InvestmentsAccountedForUsingTheEquityMethodImpactOfDeconsolidation" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Investments Accounted for Using the Equity Method, Impact of Deconsolidation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_InvestmentsAccountedForUsingTheEquityMethodImpactOfDeconsolidation" xlink:href="bpy-20260630.xsd#bpy_InvestmentsAccountedForUsingTheEquityMethodImpactOfDeconsolidation"/>
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    <link:label id="lab_bpy_BrookfieldPropertyL.P.Member_019e3b4c-3a5a-7c32-b1e4-74f53d307544_terseLabel_en-US" xlink:label="lab_bpy_BrookfieldPropertyL.P.Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Brookfield Property Partners L.P.</link:label>
    <link:label id="lab_bpy_BrookfieldPropertyL.P.Member_label_en-US" xlink:label="lab_bpy_BrookfieldPropertyL.P.Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Brookfield Property L.P. [Member]</link:label>
    <link:label id="lab_bpy_BrookfieldPropertyL.P.Member_documentation_en-US" xlink:label="lab_bpy_BrookfieldPropertyL.P.Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Brookfield Property L.P. [Member]</link:label>
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    <link:label id="lab_bpy_OtherNoncontrollingInterestsPreferredEquityHeldByParent_019e3b4c-3a5a-799f-aa07-37633b9e1b6b_terseLabel_en-US" xlink:label="lab_bpy_OtherNoncontrollingInterestsPreferredEquityHeldByParent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Preferred shares held by Brookfield Corporation</link:label>
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    <link:label id="lab_bpy_OtherNoncontrollingInterestsPreferredEquityHeldByParent_documentation_en-US" xlink:label="lab_bpy_OtherNoncontrollingInterestsPreferredEquityHeldByParent" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other Noncontrolling Interests, Preferred Equity Held By Parent</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_OtherNoncontrollingInterestsPreferredEquityHeldByParent" xlink:href="bpy-20260630.xsd#bpy_OtherNoncontrollingInterestsPreferredEquityHeldByParent"/>
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    <link:label id="lab_bpy_A6.375ClassACumulativeRedeemablePerpetualUnitsSeries2Member_019eda96-2930-759e-98e1-dbfc4e5cea07_terseLabel_en-US" xlink:label="lab_bpy_A6.375ClassACumulativeRedeemablePerpetualUnitsSeries2Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">6.375% Class A Cumulative Redeemable Perpetual Units, Series 2</link:label>
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    <link:label id="lab_bpy_A6.375ClassACumulativeRedeemablePerpetualUnitsSeries2Member_documentation_en-US" xlink:label="lab_bpy_A6.375ClassACumulativeRedeemablePerpetualUnitsSeries2Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">6.375% Class A Cumulative Redeemable Perpetual Units, Series 2</link:label>
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    <link:label id="lab_bpy_InterestRateSwapsOnAUDBBSWBBSYDebtMember_019e3b4c-3a5a-709a-b072-dec937f9fd1a_terseLabel_en-US" xlink:label="lab_bpy_InterestRateSwapsOnAUDBBSWBBSYDebtMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest rate swaps of AUD BBSW/BBSY debt</link:label>
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    <link:label id="lab_bpy_InterestRateSwapsOnAUDBBSWBBSYDebtMember_documentation_en-US" xlink:label="lab_bpy_InterestRateSwapsOnAUDBBSWBBSYDebtMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Interest Rate Swaps On AUD BBSW/BBSY Debt</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_InterestRateSwapsOnAUDBBSWBBSYDebtMember" xlink:href="bpy-20260630.xsd#bpy_InterestRateSwapsOnAUDBBSWBBSYDebtMember"/>
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    <link:label id="lab_bpy_CapitalSecuritiesNoncurrent_019e3b4c-398b-7398-b1c1-553db464e97b_verboseLabel_en-US" xlink:label="lab_bpy_CapitalSecuritiesNoncurrent" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Non-current</link:label>
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    <link:label id="lab_bpy_CapitalSecuritiesNoncurrent_documentation_en-US" xlink:label="lab_bpy_CapitalSecuritiesNoncurrent" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Capital Securities, Noncurrent</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_CapitalSecuritiesNoncurrent" xlink:href="bpy-20260630.xsd#bpy_CapitalSecuritiesNoncurrent"/>
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    <link:label id="lab_bpy_MallPropertyMember_019e3b4c-398c-7b47-96c2-4a61c192bbe5_terseLabel_en-US" xlink:label="lab_bpy_MallPropertyMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Malls</link:label>
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    <link:label id="lab_bpy_MallPropertyMember_documentation_en-US" xlink:label="lab_bpy_MallPropertyMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mall Property</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_MallPropertyMember" xlink:href="bpy-20260630.xsd#bpy_MallPropertyMember"/>
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    <link:loc xlink:type="locator" xlink:label="loc_bpy_NumberOfInvestmentPropertySold" xlink:href="bpy-20260630.xsd#bpy_NumberOfInvestmentPropertySold"/>
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    <link:label id="lab_ifrs-full_CategoriesOfFinancialAssetsAxis_019e3b4c-3a5a-70b1-a27f-7e1ccc020e2f_terseLabel_en-US" xlink:label="lab_ifrs-full_CategoriesOfFinancialAssetsAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Categories of financial assets [axis]</link:label>
    <link:label id="lab_ifrs-full_CategoriesOfFinancialAssetsAxis_label_en-US" xlink:label="lab_ifrs-full_CategoriesOfFinancialAssetsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Categories of financial assets [axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CategoriesOfFinancialAssetsAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_CategoriesOfFinancialAssetsAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CategoriesOfFinancialAssetsAxis" xlink:to="lab_ifrs-full_CategoriesOfFinancialAssetsAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_IndiaREITMember_019e3b4c-3a5a-777a-bcf1-a6d2b24214c1_terseLabel_en-US" xlink:label="lab_bpy_IndiaREITMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">India REIT</link:label>
    <link:label id="lab_bpy_IndiaREITMember_label_en-US" xlink:label="lab_bpy_IndiaREITMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">India REIT [Member]</link:label>
    <link:label id="lab_bpy_IndiaREITMember_documentation_en-US" xlink:label="lab_bpy_IndiaREITMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">India REIT</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_IndiaREITMember" xlink:href="bpy-20260630.xsd#bpy_IndiaREITMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_IndiaREITMember" xlink:to="lab_bpy_IndiaREITMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_NumberOfSharesOutstanding_019e3b4c-3a5a-708d-9a18-61b477917800_verboseLabel_en-US" xlink:label="lab_ifrs-full_NumberOfSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Shares outstanding (in shares)</link:label>
    <link:label id="lab_ifrs-full_NumberOfSharesOutstanding_019e3b4c-3a5a-7bb5-80a6-ce9271d9b860_terseLabel_en-US" xlink:label="lab_ifrs-full_NumberOfSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of shares outstanding (in shares)</link:label>
    <link:label id="lab_ifrs-full_NumberOfSharesOutstanding_label_en-US" xlink:label="lab_ifrs-full_NumberOfSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number of shares outstanding</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_NumberOfSharesOutstanding" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_NumberOfSharesOutstanding"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_NumberOfSharesOutstanding" xlink:to="lab_ifrs-full_NumberOfSharesOutstanding" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ProductsAndServicesAxis_019e3b4c-3ae9-7fe1-a0ac-ca9bdfe2399e_terseLabel_en-US" xlink:label="lab_ifrs-full_ProductsAndServicesAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Products and services [axis]</link:label>
    <link:label id="lab_ifrs-full_ProductsAndServicesAxis_label_en-US" xlink:label="lab_ifrs-full_ProductsAndServicesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Products and services [axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ProductsAndServicesAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ProductsAndServicesAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ProductsAndServicesAxis" xlink:to="lab_ifrs-full_ProductsAndServicesAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_FinancialLiabilities_019e3b4c-398b-7158-ad98-879dfae83f85_negatedLabel_en-US" xlink:label="lab_ifrs-full_FinancialLiabilities" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Fair value</link:label>
    <link:label id="lab_ifrs-full_FinancialLiabilities_019e3b4c-398b-7c35-abec-fad44bcd0ce9_negatedTerseLabel_en-US" xlink:label="lab_ifrs-full_FinancialLiabilities" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Fair value of financial liabilities</link:label>
    <link:label id="lab_ifrs-full_FinancialLiabilities_019e3b4c-398b-753a-a214-6e5cdc5f0dff_terseLabel_en-US" xlink:label="lab_ifrs-full_FinancialLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Carrying value of financial liabilities</link:label>
    <link:label id="lab_ifrs-full_FinancialLiabilities_019e3b4c-398b-7ee5-b0ae-0b8f30f3c017_totalLabel_en-US" xlink:label="lab_ifrs-full_FinancialLiabilities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total financial liabilities</link:label>
    <link:label id="lab_ifrs-full_FinancialLiabilities_019e3b4c-398b-7684-bd1d-3e4eb05dcbc6_periodStartLabel_en-US" xlink:label="lab_ifrs-full_FinancialLiabilities" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Balance, beginning of period</link:label>
    <link:label id="lab_ifrs-full_FinancialLiabilities_019e3b4c-398b-78ae-8f69-e93b1186ade8_periodEndLabel_en-US" xlink:label="lab_ifrs-full_FinancialLiabilities" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Balance, end of year</link:label>
    <link:label id="lab_ifrs-full_FinancialLiabilities_label_en-US" xlink:label="lab_ifrs-full_FinancialLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_FinancialLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_FinancialLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_FinancialLiabilities" xlink:to="lab_ifrs-full_FinancialLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_IncomeTaxExpenseContinuingOperations_019e3b4c-3a5a-76f4-9636-7299be8d2e4e_terseLabel_en-US" xlink:label="lab_ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income tax expense</link:label>
    <link:label id="lab_ifrs-full_IncomeTaxExpenseContinuingOperations_019e3b4c-3a5a-78df-9c8b-eca9bfbeaf32_totalLabel_en-US" xlink:label="lab_ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Income tax expense</link:label>
    <link:label id="lab_ifrs-full_IncomeTaxExpenseContinuingOperations_019e3b4c-3a5a-79f0-b026-3fefb20b9043_negatedLabel_en-US" xlink:label="lab_ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Income tax expense</link:label>
    <link:label id="lab_ifrs-full_IncomeTaxExpenseContinuingOperations_label_en-US" xlink:label="lab_ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tax expense (income)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_IncomeTaxExpenseContinuingOperations"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:to="lab_ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesDomain_019f8a73-3ef0-7441-b413-bb58986b3065_terseLabel_en-US" xlink:label="lab_ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash-generating units [domain]</link:label>
    <link:label id="lab_ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesDomain_label_en-US" xlink:label="lab_ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash-generating units [domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesDomain" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesDomain" xlink:to="lab_ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_AustraliaStorageMember_019f8919-d854-7d65-aa85-d9f05390e952_terseLabel_en-US" xlink:label="lab_bpy_AustraliaStorageMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Australia Storage</link:label>
    <link:label id="lab_bpy_AustraliaStorageMember_label_en-US" xlink:label="lab_bpy_AustraliaStorageMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Australia Storage [Member]</link:label>
    <link:label id="lab_bpy_AustraliaStorageMember_documentation_en-US" xlink:label="lab_bpy_AustraliaStorageMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Australia Storage</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_AustraliaStorageMember" xlink:href="bpy-20260630.xsd#bpy_AustraliaStorageMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_AustraliaStorageMember" xlink:to="lab_bpy_AustraliaStorageMember" xlink:type="arc" order="1"/>
    <link:label id="lab_currency_BRL_019e3b4c-3a5a-70ff-a747-ff9ab4ce9bd8_terseLabel_en-US" xlink:label="lab_currency_BRL" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Brazilian Reais</link:label>
    <link:label id="lab_currency_BRL_label_en-US" xlink:label="lab_currency_BRL" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Brazil, Brazil Real</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_currency_BRL" xlink:href="https://xbrl.sec.gov/currency/2025/currency-2025.xsd#currency_BRL"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_currency_BRL" xlink:to="lab_currency_BRL" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract_019e3b4c-398c-7927-a5d5-4e3c4059059e_terseLabel_en-US" xlink:label="lab_ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Operating activities</link:label>
    <link:label id="lab_ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract_label_en-US" xlink:label="lab_ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash flows from (used in) operating activities [abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:to="lab_ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod_019e3b4c-398b-7aca-8502-534812987305_terseLabel_en-US" xlink:label="lab_ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share of net earnings from equity accounted investments</link:label>
    <link:label id="lab_ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod_019e3b4c-398b-7de3-b365-a429e68be5d5_netLabel_en-US" xlink:label="lab_ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Income from equity accounted investments</link:label>
    <link:label id="lab_ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod_019e3b4c-398b-74f6-ae18-d1ebd842715d_verboseLabel_en-US" xlink:label="lab_ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Expenses from equity accounted investments</link:label>
    <link:label id="lab_ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod_label_en-US" xlink:label="lab_ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share of profit (loss) of associates and joint ventures accounted for using equity method</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:to="lab_ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfOtherNoncurrentLiabilitiesExplanatory_019e3b4c-3ae9-74bf-b7a8-9b80f506e280_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfOtherNoncurrentLiabilitiesExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">OTHER NON-CURRENT LIABILITIES</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfOtherNoncurrentLiabilitiesExplanatory_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfOtherNoncurrentLiabilitiesExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of other non-current liabilities [text block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfOtherNoncurrentLiabilitiesExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfOtherNoncurrentLiabilitiesExplanatory"/>
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    <link:label id="lab_ifrs-full_SellingGeneralAndAdministrativeExpense_019e3b4c-3a5a-7e49-a302-2d76c180be43_terseLabel_en-US" xlink:label="lab_ifrs-full_SellingGeneralAndAdministrativeExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">General and administrative expense</link:label>
    <link:label id="lab_ifrs-full_SellingGeneralAndAdministrativeExpense_019e3b4c-3a5a-7d30-bd15-c01b69ebedc4_totalLabel_en-US" xlink:label="lab_ifrs-full_SellingGeneralAndAdministrativeExpense" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total general and administrative expense</link:label>
    <link:label id="lab_ifrs-full_SellingGeneralAndAdministrativeExpense_label_en-US" xlink:label="lab_ifrs-full_SellingGeneralAndAdministrativeExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Selling, general and administrative expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_SellingGeneralAndAdministrativeExpense" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_SellingGeneralAndAdministrativeExpense"/>
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    <link:label id="lab_dei_DocumentPeriodEndDate_019e3b4c-3a5a-7bfd-b7a8-05d26f75ae4c_terseLabel_en-US" xlink:label="lab_dei_DocumentPeriodEndDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Period End Date</link:label>
    <link:label id="lab_dei_DocumentPeriodEndDate_label_en-US" xlink:label="lab_dei_DocumentPeriodEndDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Period End Date</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentPeriodEndDate" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_DocumentPeriodEndDate"/>
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    <link:label id="lab_bpy_ManagementFeeExpenseRelatedParty_019edb55-4f86-7056-84f1-c9d37ebcbb0c_terseLabel_en-US" xlink:label="lab_bpy_ManagementFeeExpenseRelatedParty" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Management fee expense</link:label>
    <link:label id="lab_bpy_ManagementFeeExpenseRelatedParty_label_en-US" xlink:label="lab_bpy_ManagementFeeExpenseRelatedParty" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Management Fee Expense, Related Party</link:label>
    <link:label id="lab_bpy_ManagementFeeExpenseRelatedParty_documentation_en-US" xlink:label="lab_bpy_ManagementFeeExpenseRelatedParty" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Management Fee Expense, Related Party</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_ManagementFeeExpenseRelatedParty" xlink:href="bpy-20260630.xsd#bpy_ManagementFeeExpenseRelatedParty"/>
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    <link:label id="lab_ifrs-full_BrandNamesMember_label_en-US" xlink:label="lab_ifrs-full_BrandNamesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Brand names [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_BrandNamesMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_BrandNamesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_BrandNamesMember" xlink:to="lab_ifrs-full_BrandNamesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill_019e3b4c-398b-7e6c-94eb-42857964cb87_terseLabel_en-US" xlink:label="lab_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Foreign currency translation and other</link:label>
    <link:label id="lab_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill_label_en-US" xlink:label="lab_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (decrease) through net exchange differences, intangible assets other than goodwill</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill" xlink:to="lab_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_IncomeStatementAbstract_019e3b4c-3ae8-7c3d-abbe-01fe692bc78c_terseLabel_en-US" xlink:label="lab_ifrs-full_IncomeStatementAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Profit or loss [abstract]</link:label>
    <link:label id="lab_ifrs-full_IncomeStatementAbstract_label_en-US" xlink:label="lab_ifrs-full_IncomeStatementAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Profit or loss [abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IncomeStatementAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_IncomeStatementAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IncomeStatementAbstract" xlink:to="lab_ifrs-full_IncomeStatementAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CurrentContractLiabilities_019e3b4c-3ae9-7d68-ba67-b09c51d4b9cb_terseLabel_en-US" xlink:label="lab_ifrs-full_CurrentContractLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred revenue</link:label>
    <link:label id="lab_ifrs-full_CurrentContractLiabilities_label_en-US" xlink:label="lab_ifrs-full_CurrentContractLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current contract liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CurrentContractLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_CurrentContractLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CurrentContractLiabilities" xlink:to="lab_ifrs-full_CurrentContractLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfFinancialLiabilitiesAbstract_019e3b4c-3a5a-7fa5-9c8a-c59254fe1fe4_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfFinancialLiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Financial liabilities</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfFinancialLiabilitiesAbstract_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfFinancialLiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of financial liabilities [abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfFinancialLiabilitiesAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfFinancialLiabilitiesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfFinancialLiabilitiesAbstract" xlink:to="lab_ifrs-full_DisclosureOfFinancialLiabilitiesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_PartnerType1Axis_019e3b4c-3ae9-7d41-85e6-b56127f7949b_terseLabel_en-US" xlink:label="lab_bpy_PartnerType1Axis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Partner Type [Axis]</link:label>
    <link:label id="lab_bpy_PartnerType1Axis_label_en-US" xlink:label="lab_bpy_PartnerType1Axis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Partner Type1 [Axis]</link:label>
    <link:label id="lab_bpy_PartnerType1Axis_documentation_en-US" xlink:label="lab_bpy_PartnerType1Axis" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Partner Type1 [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_PartnerType1Axis" xlink:href="bpy-20260630.xsd#bpy_PartnerType1Axis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_PartnerType1Axis" xlink:to="lab_bpy_PartnerType1Axis" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_RevenueOfCombinedEntity_019e3b4c-3a5a-70c3-bd07-3e8004dceab1_terseLabel_en-US" xlink:label="lab_ifrs-full_RevenueOfCombinedEntity" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Partnership's total revenue</link:label>
    <link:label id="lab_ifrs-full_RevenueOfCombinedEntity_label_en-US" xlink:label="lab_ifrs-full_RevenueOfCombinedEntity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revenue of combined entity as if combination occurred at beginning of period</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_RevenueOfCombinedEntity" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_RevenueOfCombinedEntity"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_RevenueOfCombinedEntity" xlink:to="lab_ifrs-full_RevenueOfCombinedEntity" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_DisclosureofFairValueLineItems_019e3b4c-3ae9-7526-8837-8e999a01d1b9_terseLabel_en-US" xlink:label="lab_bpy_DisclosureofFairValueLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of Fair Value [Line Items]</link:label>
    <link:label id="lab_bpy_DisclosureofFairValueLineItems_label_en-US" xlink:label="lab_bpy_DisclosureofFairValueLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of Fair Value [Line Items]</link:label>
    <link:label id="lab_bpy_DisclosureofFairValueLineItems_documentation_en-US" xlink:label="lab_bpy_DisclosureofFairValueLineItems" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">[Line Items] for Disclosure of Fair Value [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_DisclosureofFairValueLineItems" xlink:href="bpy-20260630.xsd#bpy_DisclosureofFairValueLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_DisclosureofFairValueLineItems" xlink:to="lab_bpy_DisclosureofFairValueLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ClassesOfAssetsAxis_019e3b4c-3a5a-7144-bd6f-930761c6ed63_terseLabel_en-US" xlink:label="lab_ifrs-full_ClassesOfAssetsAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Classes of assets [axis]</link:label>
    <link:label id="lab_ifrs-full_ClassesOfAssetsAxis_label_en-US" xlink:label="lab_ifrs-full_ClassesOfAssetsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Classes of assets [axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ClassesOfAssetsAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ClassesOfAssetsAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ClassesOfAssetsAxis" xlink:to="lab_ifrs-full_ClassesOfAssetsAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_OpportunisticFundInvestmentsMember_019f8878-29ca-7ff8-b706-1d66a889d216_terseLabel_en-US" xlink:label="lab_bpy_OpportunisticFundInvestmentsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Opportunistic Fund Investments</link:label>
    <link:label id="lab_bpy_OpportunisticFundInvestmentsMember_label_en-US" xlink:label="lab_bpy_OpportunisticFundInvestmentsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Opportunistic Fund Investments [Member]</link:label>
    <link:label id="lab_bpy_OpportunisticFundInvestmentsMember_documentation_en-US" xlink:label="lab_bpy_OpportunisticFundInvestmentsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Opportunistic Fund Investments</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_OpportunisticFundInvestmentsMember" xlink:href="bpy-20260630.xsd#bpy_OpportunisticFundInvestmentsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_OpportunisticFundInvestmentsMember" xlink:to="lab_bpy_OpportunisticFundInvestmentsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OperatingSegmentsMember_019e3b4c-3ae9-754c-9638-0da9509485ac_terseLabel_en-US" xlink:label="lab_ifrs-full_OperatingSegmentsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Operating segments</link:label>
    <link:label id="lab_ifrs-full_OperatingSegmentsMember_label_en-US" xlink:label="lab_ifrs-full_OperatingSegmentsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating segments [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OperatingSegmentsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_OperatingSegmentsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OperatingSegmentsMember" xlink:to="lab_ifrs-full_OperatingSegmentsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_OtherNoncurrentLiabilities1TableTextBlock_019e3b4c-3a5a-7817-82cd-1de15a5e5711_terseLabel_en-US" xlink:label="lab_bpy_OtherNoncurrentLiabilities1TableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Other Non-current Liabilities</link:label>
    <link:label id="lab_bpy_OtherNoncurrentLiabilities1TableTextBlock_label_en-US" xlink:label="lab_bpy_OtherNoncurrentLiabilities1TableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Noncurrent Liabilities 1 [Table Text Block]</link:label>
    <link:label id="lab_bpy_OtherNoncurrentLiabilities1TableTextBlock_documentation_en-US" xlink:label="lab_bpy_OtherNoncurrentLiabilities1TableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other Noncurrent Liabilities 1 [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_OtherNoncurrentLiabilities1TableTextBlock" xlink:href="bpy-20260630.xsd#bpy_OtherNoncurrentLiabilities1TableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_OtherNoncurrentLiabilities1TableTextBlock" xlink:to="lab_bpy_OtherNoncurrentLiabilities1TableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfSignificantUnobservableInputsUsedInFairValueMeasurementOfAssetsExplanatory_019e3b4c-398b-7869-9980-ecbf2efd61fe_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfSignificantUnobservableInputsUsedInFairValueMeasurementOfAssetsExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Key Valuation Metrics for Investment Properties</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfSignificantUnobservableInputsUsedInFairValueMeasurementOfAssetsExplanatory_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfSignificantUnobservableInputsUsedInFairValueMeasurementOfAssetsExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of significant unobservable inputs used in fair value measurement of assets [text block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfSignificantUnobservableInputsUsedInFairValueMeasurementOfAssetsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfSignificantUnobservableInputsUsedInFairValueMeasurementOfAssetsExplanatory"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfSignificantUnobservableInputsUsedInFairValueMeasurementOfAssetsExplanatory" xlink:to="lab_ifrs-full_DisclosureOfSignificantUnobservableInputsUsedInFairValueMeasurementOfAssetsExplanatory" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_TypesOfSharebasedPaymentArrangementsDomain_019e3b4c-398b-7da2-8b15-d7c645f018ef_terseLabel_en-US" xlink:label="lab_ifrs-full_TypesOfSharebasedPaymentArrangementsDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Types of share-based payment arrangements</link:label>
    <link:label id="lab_ifrs-full_TypesOfSharebasedPaymentArrangementsDomain_label_en-US" xlink:label="lab_ifrs-full_TypesOfSharebasedPaymentArrangementsDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Types of share-based payment arrangements [domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_TypesOfSharebasedPaymentArrangementsDomain" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_TypesOfSharebasedPaymentArrangementsDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_TypesOfSharebasedPaymentArrangementsDomain" xlink:to="lab_ifrs-full_TypesOfSharebasedPaymentArrangementsDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_RevenueOfAcquiree_019e3b4c-3a5a-7a26-bd87-7d4181ded97e_terseLabel_en-US" xlink:label="lab_ifrs-full_RevenueOfAcquiree" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Revenue</link:label>
    <link:label id="lab_ifrs-full_RevenueOfAcquiree_label_en-US" xlink:label="lab_ifrs-full_RevenueOfAcquiree" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revenue of acquiree since acquisition date</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_RevenueOfAcquiree" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_RevenueOfAcquiree"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_RevenueOfAcquiree" xlink:to="lab_ifrs-full_RevenueOfAcquiree" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_SubsidiariesWithMaterialNoncontrollingInterestsMember_019e3b4c-3ae9-78fa-bd76-24f8cfb39728_terseLabel_en-US" xlink:label="lab_ifrs-full_SubsidiariesWithMaterialNoncontrollingInterestsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subsidiaries with material non-controlling interests</link:label>
    <link:label id="lab_ifrs-full_SubsidiariesWithMaterialNoncontrollingInterestsMember_label_en-US" xlink:label="lab_ifrs-full_SubsidiariesWithMaterialNoncontrollingInterestsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsidiaries with material non-controlling interests [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_SubsidiariesWithMaterialNoncontrollingInterestsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_SubsidiariesWithMaterialNoncontrollingInterestsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_SubsidiariesWithMaterialNoncontrollingInterestsMember" xlink:to="lab_ifrs-full_SubsidiariesWithMaterialNoncontrollingInterestsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_RangeAxis_019e3b4c-3a5a-7e2a-9498-92ea22ee7650_terseLabel_en-US" xlink:label="lab_ifrs-full_RangeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Range [axis]</link:label>
    <link:label id="lab_ifrs-full_RangeAxis_label_en-US" xlink:label="lab_ifrs-full_RangeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Range [axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_RangeAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_RangeAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_RangeAxis" xlink:to="lab_ifrs-full_RangeAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ComponentsOfEquityAxis_019e3b4c-3a5a-7427-9ffa-3c4031a909ea_terseLabel_en-US" xlink:label="lab_ifrs-full_ComponentsOfEquityAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Components of equity [axis]</link:label>
    <link:label id="lab_ifrs-full_ComponentsOfEquityAxis_label_en-US" xlink:label="lab_ifrs-full_ComponentsOfEquityAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Components of equity [axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ComponentsOfEquityAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ComponentsOfEquityAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ComponentsOfEquityAxis" xlink:to="lab_ifrs-full_ComponentsOfEquityAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_FixedInterestRateMember_019e3b4c-398b-7cb4-a1d0-71a0477b2811_terseLabel_en-US" xlink:label="lab_ifrs-full_FixedInterestRateMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fixed rate</link:label>
    <link:label id="lab_ifrs-full_FixedInterestRateMember_label_en-US" xlink:label="lab_ifrs-full_FixedInterestRateMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fixed interest rate [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_FixedInterestRateMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_FixedInterestRateMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_FixedInterestRateMember" xlink:to="lab_ifrs-full_FixedInterestRateMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfFinancialLiabilitiesExplanatory_019e3b4c-398b-7879-8d28-ddeec182a992_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfFinancialLiabilitiesExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Financial Liabilities</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfFinancialLiabilitiesExplanatory_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfFinancialLiabilitiesExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of financial liabilities [text block]</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfFinancialLiabilitiesExplanatory" xlink:to="lab_ifrs-full_DisclosureOfFinancialLiabilitiesExplanatory" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_SeriesFourSeniorPreferredSharesMember_019e3b4c-3a5a-7446-a84d-d4d70c2341c0_terseLabel_en-US" xlink:label="lab_bpy_SeriesFourSeniorPreferredSharesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Series 4, Senior Preferred Shares</link:label>
    <link:label id="lab_bpy_SeriesFourSeniorPreferredSharesMember_label_en-US" xlink:label="lab_bpy_SeriesFourSeniorPreferredSharesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Series Four, Senior Preferred Shares [Member]</link:label>
    <link:label id="lab_bpy_SeriesFourSeniorPreferredSharesMember_documentation_en-US" xlink:label="lab_bpy_SeriesFourSeniorPreferredSharesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Series Four, Senior Preferred Shares [Member]</link:label>
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    <link:label id="lab_bpy_FundsFromOperations_019ede55-1771-74c8-922d-5ad4ed377fee_terseLabel_en-US" xlink:label="lab_bpy_FundsFromOperations" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">FFO</link:label>
    <link:label id="lab_bpy_FundsFromOperations_label_en-US" xlink:label="lab_bpy_FundsFromOperations" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Funds From Operations</link:label>
    <link:label id="lab_bpy_FundsFromOperations_documentation_en-US" xlink:label="lab_bpy_FundsFromOperations" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Funds From Operations</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_FundsFromOperations" xlink:href="bpy-20260630.xsd#bpy_FundsFromOperations"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_FundsFromOperations" xlink:to="lab_bpy_FundsFromOperations" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ProfitLossBeforeTax_019e3b4c-398b-77f1-82fd-74c5a9caa5b6_totalLabel_en-US" xlink:label="lab_ifrs-full_ProfitLossBeforeTax" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Income (loss) before income taxes</link:label>
    <link:label id="lab_ifrs-full_ProfitLossBeforeTax_label_en-US" xlink:label="lab_ifrs-full_ProfitLossBeforeTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Profit (loss) before tax</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ProfitLossBeforeTax" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ProfitLossBeforeTax"/>
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    <link:label id="lab_ifrs-full_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities_019e3b4c-3a5a-7235-b440-d39bad6f737f_terseLabel_en-US" xlink:label="lab_ifrs-full_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disposition of subsidiaries</link:label>
    <link:label id="lab_ifrs-full_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities_label_en-US" xlink:label="lab_ifrs-full_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash flows from losing control of subsidiaries or other businesses, classified as investing activities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:to="lab_ifrs-full_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_BorrowingsOtherAdjustments_019e3b4c-3a5a-7397-b82a-d866d0ef91cc_terseLabel_en-US" xlink:label="lab_bpy_BorrowingsOtherAdjustments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other</link:label>
    <link:label id="lab_bpy_BorrowingsOtherAdjustments_label_en-US" xlink:label="lab_bpy_BorrowingsOtherAdjustments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Borrowings, Other Adjustments</link:label>
    <link:label id="lab_bpy_BorrowingsOtherAdjustments_documentation_en-US" xlink:label="lab_bpy_BorrowingsOtherAdjustments" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Borrowings, Other Adjustments</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_BorrowingsOtherAdjustments" xlink:href="bpy-20260630.xsd#bpy_BorrowingsOtherAdjustments"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_BorrowingsOtherAdjustments" xlink:to="lab_bpy_BorrowingsOtherAdjustments" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_DisclosureofFairValueTable_019e3b4c-3a5a-7b52-8860-c47cbf757f5b_terseLabel_en-US" xlink:label="lab_bpy_DisclosureofFairValueTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of Fair Value [Table]</link:label>
    <link:label id="lab_bpy_DisclosureofFairValueTable_label_en-US" xlink:label="lab_bpy_DisclosureofFairValueTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of Fair Value [Table]</link:label>
    <link:label id="lab_bpy_DisclosureofFairValueTable_documentation_en-US" xlink:label="lab_bpy_DisclosureofFairValueTable" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure of Fair Value [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_DisclosureofFairValueTable" xlink:href="bpy-20260630.xsd#bpy_DisclosureofFairValueTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_DisclosureofFairValueTable" xlink:to="lab_bpy_DisclosureofFairValueTable" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_BPYFairValueLTIPUnitPlanMember_019e3b4c-398c-7289-8c2e-5e6a20d85c2a_terseLabel_en-US" xlink:label="lab_bpy_BPYFairValueLTIPUnitPlanMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">BPY Fair Value LTIP Unit Plan</link:label>
    <link:label id="lab_bpy_BPYFairValueLTIPUnitPlanMember_label_en-US" xlink:label="lab_bpy_BPYFairValueLTIPUnitPlanMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">BPY Fair Value LTIP Unit Plan [Member]</link:label>
    <link:label id="lab_bpy_BPYFairValueLTIPUnitPlanMember_documentation_en-US" xlink:label="lab_bpy_BPYFairValueLTIPUnitPlanMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">BPY Fair Value LTIP Unit Plan [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_BPYFairValueLTIPUnitPlanMember" xlink:href="bpy-20260630.xsd#bpy_BPYFairValueLTIPUnitPlanMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_BPYFairValueLTIPUnitPlanMember" xlink:to="lab_bpy_BPYFairValueLTIPUnitPlanMember" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_MultifamilyMember_019e3b4c-3ae9-7c52-ad56-90cfd9ab5f89_terseLabel_en-US" xlink:label="lab_srt_MultifamilyMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Multifamily</link:label>
    <link:label id="lab_srt_MultifamilyMember_label_en-US" xlink:label="lab_srt_MultifamilyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Multifamily [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MultifamilyMember" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_MultifamilyMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_MultifamilyMember" xlink:to="lab_srt_MultifamilyMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CategoriesOfRelatedPartiesDomain_019e3b4c-3a5a-7bd7-bfdd-ccaea38b80ba_terseLabel_en-US" xlink:label="lab_ifrs-full_CategoriesOfRelatedPartiesDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Categories of related parties</link:label>
    <link:label id="lab_ifrs-full_CategoriesOfRelatedPartiesDomain_label_en-US" xlink:label="lab_ifrs-full_CategoriesOfRelatedPartiesDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Categories of related parties [domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CategoriesOfRelatedPartiesDomain" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_CategoriesOfRelatedPartiesDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CategoriesOfRelatedPartiesDomain" xlink:to="lab_ifrs-full_CategoriesOfRelatedPartiesDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherCurrentAssets_019e3b4c-398b-7170-9c85-e861de025895_terseLabel_en-US" xlink:label="lab_ifrs-full_OtherCurrentAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other current assets</link:label>
    <link:label id="lab_ifrs-full_OtherCurrentAssets_label_en-US" xlink:label="lab_ifrs-full_OtherCurrentAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other current assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherCurrentAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_OtherCurrentAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherCurrentAssets" xlink:to="lab_ifrs-full_OtherCurrentAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_JointVenturesMember_019e3b4c-3ae9-713f-a766-57b4dbeb5b0c_terseLabel_en-US" xlink:label="lab_ifrs-full_JointVenturesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total for all joint ventures</link:label>
    <link:label id="lab_ifrs-full_JointVenturesMember_label_en-US" xlink:label="lab_ifrs-full_JointVenturesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Total for all joint ventures [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_JointVenturesMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_JointVenturesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_JointVenturesMember" xlink:to="lab_ifrs-full_JointVenturesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ClassesOfFinancialInstrumentsDomain_019e3b4c-3a5a-754c-869e-52f616e1ca6a_terseLabel_en-US" xlink:label="lab_ifrs-full_ClassesOfFinancialInstrumentsDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Classes of financial instruments</link:label>
    <link:label id="lab_ifrs-full_ClassesOfFinancialInstrumentsDomain_label_en-US" xlink:label="lab_ifrs-full_ClassesOfFinancialInstrumentsDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Classes of financial instruments [domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ClassesOfFinancialInstrumentsDomain" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ClassesOfFinancialInstrumentsDomain"/>
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    <link:label id="lab_ifrs-full_DisclosureOfBusinessCombinationsTable_019e3b4c-3ae9-7bce-936b-cc0d7d7d89ea_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfBusinessCombinationsTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about business combination [table]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfBusinessCombinationsTable_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfBusinessCombinationsTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about business combination [table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfBusinessCombinationsTable" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfBusinessCombinationsTable"/>
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    <link:label id="lab_bpy_AccountsPayableAndAccruedLiabilitiesCurrent1_019e3b4c-3ae9-7d37-88f6-b00a6a24d021_terseLabel_en-US" xlink:label="lab_bpy_AccountsPayableAndAccruedLiabilitiesCurrent1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accounts payable and accrued liabilities</link:label>
    <link:label id="lab_bpy_AccountsPayableAndAccruedLiabilitiesCurrent1_label_en-US" xlink:label="lab_bpy_AccountsPayableAndAccruedLiabilitiesCurrent1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounts Payable And Accrued Liabilities, Current1</link:label>
    <link:label id="lab_bpy_AccountsPayableAndAccruedLiabilitiesCurrent1_documentation_en-US" xlink:label="lab_bpy_AccountsPayableAndAccruedLiabilitiesCurrent1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Accounts Payable And Accrued Liabilities, Current1</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_AccountsPayableAndAccruedLiabilitiesCurrent1" xlink:href="bpy-20260630.xsd#bpy_AccountsPayableAndAccruedLiabilitiesCurrent1"/>
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    <link:label id="lab_ifrs-full_AdditionsFromSubsequentExpenditureRecognisedAsAssetInvestmentProperty_019e3b4c-3ae9-7206-9d92-e0ad7c74e78b_verboseLabel_en-US" xlink:label="lab_ifrs-full_AdditionsFromSubsequentExpenditureRecognisedAsAssetInvestmentProperty" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Capital expenditures</link:label>
    <link:label id="lab_ifrs-full_AdditionsFromSubsequentExpenditureRecognisedAsAssetInvestmentProperty_label_en-US" xlink:label="lab_ifrs-full_AdditionsFromSubsequentExpenditureRecognisedAsAssetInvestmentProperty" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Additions from subsequent expenditure recognised as asset, investment property</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AdditionsFromSubsequentExpenditureRecognisedAsAssetInvestmentProperty" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_AdditionsFromSubsequentExpenditureRecognisedAsAssetInvestmentProperty"/>
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    <link:label id="lab_bpy_SeriesOneClassAPreferredEquityUnitsMember_019e3b4c-3ae9-78dc-a189-969414318de6_terseLabel_en-US" xlink:label="lab_bpy_SeriesOneClassAPreferredEquityUnitsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Series 1, Class A Preferred Equity Units</link:label>
    <link:label id="lab_bpy_SeriesOneClassAPreferredEquityUnitsMember_label_en-US" xlink:label="lab_bpy_SeriesOneClassAPreferredEquityUnitsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Series One, Class A Preferred Equity Units [Member]</link:label>
    <link:label id="lab_bpy_SeriesOneClassAPreferredEquityUnitsMember_documentation_en-US" xlink:label="lab_bpy_SeriesOneClassAPreferredEquityUnitsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Series One, Class A Preferred Equity Units [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_SeriesOneClassAPreferredEquityUnitsMember" xlink:href="bpy-20260630.xsd#bpy_SeriesOneClassAPreferredEquityUnitsMember"/>
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    <link:label id="lab_ifrs-full_ProductsAndServicesDomain_019e3b4c-398b-77ed-8b1f-0617bea86828_terseLabel_en-US" xlink:label="lab_ifrs-full_ProductsAndServicesDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Products and services</link:label>
    <link:label id="lab_ifrs-full_ProductsAndServicesDomain_label_en-US" xlink:label="lab_ifrs-full_ProductsAndServicesDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Products and services [domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ProductsAndServicesDomain" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ProductsAndServicesDomain"/>
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    <link:label id="lab_bpy_MultifamilyOperatingPlatformMember_019f8844-0dfb-7a8f-9ea4-076ac843b4cd_terseLabel_en-US" xlink:label="lab_bpy_MultifamilyOperatingPlatformMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Multifamily Operating Platform</link:label>
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    <link:label id="lab_bpy_CapitalSecuritiesReclassificationOfLiabilitiesHeldForSale_019f8915-07e5-743f-b6ff-64baed86c894_terseLabel_en-US" xlink:label="lab_bpy_CapitalSecuritiesReclassificationOfLiabilitiesHeldForSale" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Reclassification to liabilities held for sale</link:label>
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    <link:label id="lab_bpy_CapitalSecuritiesReclassificationOfLiabilitiesHeldForSale_documentation_en-US" xlink:label="lab_bpy_CapitalSecuritiesReclassificationOfLiabilitiesHeldForSale" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Capital Securities, Reclassification of Liabilities Held For Sale</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_CapitalSecuritiesReclassificationOfLiabilitiesHeldForSale" xlink:href="bpy-20260630.xsd#bpy_CapitalSecuritiesReclassificationOfLiabilitiesHeldForSale"/>
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    <link:label id="lab_bpy_PartnerTypeAxis_019e3b4c-3ae9-78ea-99a7-81e4b8c5ccbe_terseLabel_en-US" xlink:label="lab_bpy_PartnerTypeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Partner Type [Axis]</link:label>
    <link:label id="lab_bpy_PartnerTypeAxis_label_en-US" xlink:label="lab_bpy_PartnerTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Partner Type [Axis]</link:label>
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    <link:label id="lab_ifrs-full_PreferenceSharesMember_019e3b4c-3a5a-7013-a734-b409f7c2753b_terseLabel_en-US" xlink:label="lab_ifrs-full_PreferenceSharesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Preferred equity</link:label>
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    <link:label id="lab_bpy_InterestRateSwapsOnForecastedFixedRateDebtMember_documentation_en-US" xlink:label="lab_bpy_InterestRateSwapsOnForecastedFixedRateDebtMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Interest Rate Swaps On Forecasted Fixed Rate Debt</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_InterestRateSwapsOnForecastedFixedRateDebtMember" xlink:href="bpy-20260630.xsd#bpy_InterestRateSwapsOnForecastedFixedRateDebtMember"/>
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    <link:label id="lab_ifrs-full_RevenueFromHotelOperations_label_en-US" xlink:label="lab_ifrs-full_RevenueFromHotelOperations" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revenue from hotel operations</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_RevenueFromHotelOperations" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_RevenueFromHotelOperations"/>
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    <link:label id="lab_currency_CAD_019e3b4c-3a5a-7a5d-9979-52fb90fcb047_terseLabel_en-US" xlink:label="lab_currency_CAD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Canadian Dollars</link:label>
    <link:label id="lab_currency_CAD_label_en-US" xlink:label="lab_currency_CAD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Canada, Dollars</link:label>
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    <link:label id="lab_ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings_019e3b4c-3ae9-7f26-9065-91ba4e1858f8_netLabel_en-US" xlink:label="lab_ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Debt obligations</link:label>
    <link:label id="lab_ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings_019e3b4c-3ae9-7de0-b3ee-810b5abc4105_verboseLabel_en-US" xlink:label="lab_ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Current</link:label>
    <link:label id="lab_ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings_label_en-US" xlink:label="lab_ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current borrowings and current portion of non-current borrowings</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings"/>
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    <link:label id="lab_bpy_ShareOfGainsLossesOnCashFlowsHedgesOfAssociatesAndJointVenturesAccountedForUsingEquityMethodNetOfTax_documentation_en-US" xlink:label="lab_bpy_ShareOfGainsLossesOnCashFlowsHedgesOfAssociatesAndJointVenturesAccountedForUsingEquityMethodNetOfTax" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Share Of Gains (Losses) On Cash Flows Hedges Of Associates And Joint Ventures Accounted For Using Equity Method, Net Of Tax</link:label>
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    <link:label id="lab_bpy_ManagementFeePercentageRelatedPartyTransactions_019edb55-4f86-7191-b65f-e4998c219d8d_terseLabel_en-US" xlink:label="lab_bpy_ManagementFeePercentageRelatedPartyTransactions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Management fee percent</link:label>
    <link:label id="lab_bpy_ManagementFeePercentageRelatedPartyTransactions_label_en-US" xlink:label="lab_bpy_ManagementFeePercentageRelatedPartyTransactions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Management Fee Percentage, Related Party Transactions</link:label>
    <link:label id="lab_bpy_ManagementFeePercentageRelatedPartyTransactions_documentation_en-US" xlink:label="lab_bpy_ManagementFeePercentageRelatedPartyTransactions" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Management Fee Percentage, Related Party Transactions</link:label>
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    <link:label id="lab_ifrs-full_ClassesOfAssetsDomain_019e3b4c-3ae9-7dd1-8c8f-5ad428e8849b_terseLabel_en-US" xlink:label="lab_ifrs-full_ClassesOfAssetsDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Classes of assets</link:label>
    <link:label id="lab_ifrs-full_ClassesOfAssetsDomain_label_en-US" xlink:label="lab_ifrs-full_ClassesOfAssetsDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Classes of assets [domain]</link:label>
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    <link:label id="lab_dei_CurrentFiscalYearEndDate_label_en-US" xlink:label="lab_dei_CurrentFiscalYearEndDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current Fiscal Year End Date</link:label>
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    <link:label id="lab_ifrs-full_ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_019e3b4c-398b-7813-8426-e4bbdd8be7cd_terseLabel_en-US" xlink:label="lab_ifrs-full_ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Property, plant and equipment</link:label>
    <link:label id="lab_ifrs-full_ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_label_en-US" xlink:label="lab_ifrs-full_ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from sales of property, plant and equipment, classified as investing activities</link:label>
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    <link:label id="lab_bpy_AssetsFairValueAdjustment1_label_en-US" xlink:label="lab_bpy_AssetsFairValueAdjustment1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets, Fair Value Adjustment1</link:label>
    <link:label id="lab_bpy_AssetsFairValueAdjustment1_documentation_en-US" xlink:label="lab_bpy_AssetsFairValueAdjustment1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Assets, Fair Value Adjustment1</link:label>
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    <link:label id="lab_bpy_CapitalSecuritiesDecreaseForDeconsolidation_documentation_en-US" xlink:label="lab_bpy_CapitalSecuritiesDecreaseForDeconsolidation" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Capital Securities, Decrease For Deconsolidation</link:label>
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    <link:label id="lab_bpy_StatementOfCashFlowsTable_label_en-US" xlink:label="lab_bpy_StatementOfCashFlowsTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of Cash Flows [Table]</link:label>
    <link:label id="lab_bpy_StatementOfCashFlowsTable_documentation_en-US" xlink:label="lab_bpy_StatementOfCashFlowsTable" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Statement of Cash Flows</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_StatementOfCashFlowsTable" xlink:href="bpy-20260630.xsd#bpy_StatementOfCashFlowsTable"/>
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    <link:label id="lab_ifrs-full_ProportionOfOwnershipInterestInJointVenture_019e3b4c-3a5a-7683-b337-610e01471c53_terseLabel_en-US" xlink:label="lab_ifrs-full_ProportionOfOwnershipInterestInJointVenture" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proportion of ownership interest in joint venture (as a percentage)</link:label>
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    <link:label id="lab_ifrs-full_FinancialLiabilitiesAtAmortisedCostCategoryMember_019e3b4c-3ae9-7049-b1ab-70ac8ad811dc_terseLabel_en-US" xlink:label="lab_ifrs-full_FinancialLiabilitiesAtAmortisedCostCategoryMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amortized cost</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_FinancialLiabilitiesAtAmortisedCostCategoryMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_FinancialLiabilitiesAtAmortisedCostCategoryMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_FinancialLiabilitiesAtAmortisedCostCategoryMember" xlink:to="lab_ifrs-full_FinancialLiabilitiesAtAmortisedCostCategoryMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_OtherMember_019e3b4c-398b-72bb-9170-8bdbce3e4c3d_verboseLabel_en-US" xlink:label="lab_bpy_OtherMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Other LP Investments</link:label>
    <link:label id="lab_bpy_OtherMember_label_en-US" xlink:label="lab_bpy_OtherMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other [Member]</link:label>
    <link:label id="lab_bpy_OtherMember_documentation_en-US" xlink:label="lab_bpy_OtherMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_OtherMember" xlink:href="bpy-20260630.xsd#bpy_OtherMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_OtherMember" xlink:to="lab_bpy_OtherMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems_019e3b4c-3ae9-74fe-80a8-2419c44b4d29_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about borrowings [line items]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about borrowings [line items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="lab_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_InterestRateCapsOfEuroEURIBORDebtMember_019e3b4c-398b-7f80-92ab-7c3d9471dd24_terseLabel_en-US" xlink:label="lab_bpy_InterestRateCapsOfEuroEURIBORDebtMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest rate caps of &#8364; EURIBOR debt</link:label>
    <link:label id="lab_bpy_InterestRateCapsOfEuroEURIBORDebtMember_label_en-US" xlink:label="lab_bpy_InterestRateCapsOfEuroEURIBORDebtMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Rate Caps Of Euro EURIBOR Debt [Member]</link:label>
    <link:label id="lab_bpy_InterestRateCapsOfEuroEURIBORDebtMember_documentation_en-US" xlink:label="lab_bpy_InterestRateCapsOfEuroEURIBORDebtMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Interest Rate Caps Of Euro EURIBOR Debt</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_InterestRateCapsOfEuroEURIBORDebtMember" xlink:href="bpy-20260630.xsd#bpy_InterestRateCapsOfEuroEURIBORDebtMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_InterestRateCapsOfEuroEURIBORDebtMember" xlink:to="lab_bpy_InterestRateCapsOfEuroEURIBORDebtMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ProfitLoss_019e3b4c-3a5a-7a5c-9099-f833f1b7ced3_totalLabel_en-US" xlink:label="lab_ifrs-full_ProfitLoss" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net income (loss)</link:label>
    <link:label id="lab_ifrs-full_ProfitLoss_019eda1b-cacd-7680-81af-338efa24f701_terseLabel_en-US" xlink:label="lab_ifrs-full_ProfitLoss" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net income (loss)</link:label>
    <link:label id="lab_ifrs-full_ProfitLoss_019e3b4c-3a5a-78fe-99fc-3a83dd30c9f9_verboseLabel_en-US" xlink:label="lab_ifrs-full_ProfitLoss" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Net (loss) income</link:label>
    <link:label id="lab_ifrs-full_ProfitLoss_019e3b4c-3a5a-77d6-bfb9-8229aa993319_netLabel_en-US" xlink:label="lab_ifrs-full_ProfitLoss" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Net income (loss)</link:label>
    <link:label id="lab_ifrs-full_ProfitLoss_label_en-US" xlink:label="lab_ifrs-full_ProfitLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Profit (loss)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ProfitLoss" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ProfitLoss"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ProfitLoss" xlink:to="lab_ifrs-full_ProfitLoss" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherComprehensiveIncomeNetOfTaxCashFlowHedges_019e3b4c-3a5a-7aa5-ad4e-eb39f0fe1626_terseLabel_en-US" xlink:label="lab_ifrs-full_OtherComprehensiveIncomeNetOfTaxCashFlowHedges" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash flow hedges</link:label>
    <link:label id="lab_ifrs-full_OtherComprehensiveIncomeNetOfTaxCashFlowHedges_019e3b4c-3a5a-74c1-8d0a-f3f4af490a1d_totalLabel_en-US" xlink:label="lab_ifrs-full_OtherComprehensiveIncomeNetOfTaxCashFlowHedges" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Cash flow hedges</link:label>
    <link:label id="lab_ifrs-full_OtherComprehensiveIncomeNetOfTaxCashFlowHedges_label_en-US" xlink:label="lab_ifrs-full_OtherComprehensiveIncomeNetOfTaxCashFlowHedges" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other comprehensive income, net of tax, cash flow hedges</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherComprehensiveIncomeNetOfTaxCashFlowHedges" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_OtherComprehensiveIncomeNetOfTaxCashFlowHedges"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherComprehensiveIncomeNetOfTaxCashFlowHedges" xlink:to="lab_ifrs-full_OtherComprehensiveIncomeNetOfTaxCashFlowHedges" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_FinancialAssets_019e3b4c-3ae9-767c-8971-b24325aadea5_verboseLabel_en-US" xlink:label="lab_ifrs-full_FinancialAssets" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Fair value</link:label>
    <link:label id="lab_ifrs-full_FinancialAssets_019e3b4c-3ae9-74f0-81b0-561e9ef4da3b_terseLabel_en-US" xlink:label="lab_ifrs-full_FinancialAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Carrying value of financial assets</link:label>
    <link:label id="lab_ifrs-full_FinancialAssets_019e3b4c-3ae9-74f5-92d5-a3794821c419_totalLabel_en-US" xlink:label="lab_ifrs-full_FinancialAssets" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total financial assets</link:label>
    <link:label id="lab_ifrs-full_FinancialAssets_019e3b4c-3ae9-7bf3-96e7-1584ac90e3a2_periodStartLabel_en-US" xlink:label="lab_ifrs-full_FinancialAssets" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Balance, beginning of period</link:label>
    <link:label id="lab_ifrs-full_FinancialAssets_019e3b4c-3ae9-7ec6-a0b7-4eef52d72627_periodEndLabel_en-US" xlink:label="lab_ifrs-full_FinancialAssets" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Balance, end of period</link:label>
    <link:label id="lab_ifrs-full_FinancialAssets_label_en-US" xlink:label="lab_ifrs-full_FinancialAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_FinancialAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_FinancialAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_FinancialAssets" xlink:to="lab_ifrs-full_FinancialAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_FundssubscriptioncreditfacilitiesMember_019e3b4c-3ae9-7ba3-92ba-f95ed6322e9b_terseLabel_en-US" xlink:label="lab_bpy_FundssubscriptioncreditfacilitiesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Funds subscription credit facilities</link:label>
    <link:label id="lab_bpy_FundssubscriptioncreditfacilitiesMember_label_en-US" xlink:label="lab_bpy_FundssubscriptioncreditfacilitiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Funds subscription credit facilities [Member]</link:label>
    <link:label id="lab_bpy_FundssubscriptioncreditfacilitiesMember_documentation_en-US" xlink:label="lab_bpy_FundssubscriptioncreditfacilitiesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Funds subscription credit facilities [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_FundssubscriptioncreditfacilitiesMember" xlink:href="bpy-20260630.xsd#bpy_FundssubscriptioncreditfacilitiesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_FundssubscriptioncreditfacilitiesMember" xlink:to="lab_bpy_FundssubscriptioncreditfacilitiesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_HospitalityPropertyMember_019e3b4c-3ae9-7f60-87d9-9b8f13301331_terseLabel_en-US" xlink:label="lab_bpy_HospitalityPropertyMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Hospitality</link:label>
    <link:label id="lab_bpy_HospitalityPropertyMember_label_en-US" xlink:label="lab_bpy_HospitalityPropertyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Hospitality Property [Member]</link:label>
    <link:label id="lab_bpy_HospitalityPropertyMember_documentation_en-US" xlink:label="lab_bpy_HospitalityPropertyMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Hospitality Property [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_HospitalityPropertyMember" xlink:href="bpy-20260630.xsd#bpy_HospitalityPropertyMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_HospitalityPropertyMember" xlink:to="lab_bpy_HospitalityPropertyMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_NoncurrentLiabilities_019e3b4c-3ae9-7b53-aca9-ff2449fd8228_totalLabel_en-US" xlink:label="lab_ifrs-full_NoncurrentLiabilities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total non-current liabilities</link:label>
    <link:label id="lab_ifrs-full_NoncurrentLiabilities_019e3b4c-3ae9-7b30-b7da-6e8023e633e4_terseLabel_en-US" xlink:label="lab_ifrs-full_NoncurrentLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-current liabilities</link:label>
    <link:label id="lab_ifrs-full_NoncurrentLiabilities_label_en-US" xlink:label="lab_ifrs-full_NoncurrentLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-current liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_NoncurrentLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_NoncurrentLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_NoncurrentLiabilities" xlink:to="lab_ifrs-full_NoncurrentLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_FinancialLiabilitiesRecognisedAsOfAcquisitionDate_019f8d9b-6719-76fa-84b7-1caeb700b6f3_verboseLabel_en-US" xlink:label="lab_ifrs-full_FinancialLiabilitiesRecognisedAsOfAcquisitionDate" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Total liabilities</link:label>
    <link:label id="lab_ifrs-full_FinancialLiabilitiesRecognisedAsOfAcquisitionDate_label_en-US" xlink:label="lab_ifrs-full_FinancialLiabilitiesRecognisedAsOfAcquisitionDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial liabilities recognised as of acquisition date</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_FinancialLiabilitiesRecognisedAsOfAcquisitionDate" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_FinancialLiabilitiesRecognisedAsOfAcquisitionDate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_FinancialLiabilitiesRecognisedAsOfAcquisitionDate" xlink:to="lab_ifrs-full_FinancialLiabilitiesRecognisedAsOfAcquisitionDate" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_AverageRateOfHedgingInstrument_019e3b4c-3a5a-709b-a541-05eb157e9cc5_terseLabel_en-US" xlink:label="lab_ifrs-full_AverageRateOfHedgingInstrument" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Rates</link:label>
    <link:label id="lab_ifrs-full_AverageRateOfHedgingInstrument_label_en-US" xlink:label="lab_ifrs-full_AverageRateOfHedgingInstrument" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Average rate of hedging instrument</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AverageRateOfHedgingInstrument" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_AverageRateOfHedgingInstrument"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AverageRateOfHedgingInstrument" xlink:to="lab_ifrs-full_AverageRateOfHedgingInstrument" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_DiscountRateTerminalCapitalizationRateAndImpliedCapitalizationRateMember_019e3b4c-3a5a-7007-b4b0-0d30b992646c_terseLabel_en-US" xlink:label="lab_bpy_DiscountRateTerminalCapitalizationRateAndImpliedCapitalizationRateMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">DR and TCR, or ICR</link:label>
    <link:label id="lab_bpy_DiscountRateTerminalCapitalizationRateAndImpliedCapitalizationRateMember_label_en-US" xlink:label="lab_bpy_DiscountRateTerminalCapitalizationRateAndImpliedCapitalizationRateMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Discount Rate, Terminal Capitalization Rate, And Implied Capitalization Rate [Member]</link:label>
    <link:label id="lab_bpy_DiscountRateTerminalCapitalizationRateAndImpliedCapitalizationRateMember_documentation_en-US" xlink:label="lab_bpy_DiscountRateTerminalCapitalizationRateAndImpliedCapitalizationRateMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Discount Rate, Terminal Capitalization Rate, And Implied Capitalization Rate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_DiscountRateTerminalCapitalizationRateAndImpliedCapitalizationRateMember" xlink:href="bpy-20260630.xsd#bpy_DiscountRateTerminalCapitalizationRateAndImpliedCapitalizationRateMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_DiscountRateTerminalCapitalizationRateAndImpliedCapitalizationRateMember" xlink:to="lab_bpy_DiscountRateTerminalCapitalizationRateAndImpliedCapitalizationRateMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_NumberOfSharesIssued_019e3b4c-3a5a-7fe1-850c-6da06c08fc93_terseLabel_en-US" xlink:label="lab_ifrs-full_NumberOfSharesIssued" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of shares/units issued</link:label>
    <link:label id="lab_ifrs-full_NumberOfSharesIssued_label_en-US" xlink:label="lab_ifrs-full_NumberOfSharesIssued" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number of shares issued</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_NumberOfSharesIssued" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_NumberOfSharesIssued"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_NumberOfSharesIssued" xlink:to="lab_ifrs-full_NumberOfSharesIssued" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory_019e3b4c-3ae9-76c0-9f1c-d3d686cdb07b_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">SEGMENT INFORMATION</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of entity's operating segments [text block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory" xlink:to="lab_ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DividendsRecognisedAsDistributionsToOwnersPerShare_019e3b4c-3a5a-76fd-95d7-55b2206ab55f_terseLabel_en-US" xlink:label="lab_ifrs-full_DividendsRecognisedAsDistributionsToOwnersPerShare" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Distributions per unit (in dollars per share)</link:label>
    <link:label id="lab_ifrs-full_DividendsRecognisedAsDistributionsToOwnersPerShare_label_en-US" xlink:label="lab_ifrs-full_DividendsRecognisedAsDistributionsToOwnersPerShare" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividends recognised as distributions to owners per share</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DividendsRecognisedAsDistributionsToOwnersPerShare" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DividendsRecognisedAsDistributionsToOwnersPerShare"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DividendsRecognisedAsDistributionsToOwnersPerShare" xlink:to="lab_ifrs-full_DividendsRecognisedAsDistributionsToOwnersPerShare" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_AssociatesMember_019e3b4c-3a5a-78aa-8750-e641d1cc54a9_terseLabel_en-US" xlink:label="lab_ifrs-full_AssociatesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total for all associates</link:label>
    <link:label id="lab_ifrs-full_AssociatesMember_label_en-US" xlink:label="lab_ifrs-full_AssociatesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Total for all associates [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AssociatesMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_AssociatesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AssociatesMember" xlink:to="lab_ifrs-full_AssociatesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CapitalCommitments_019f887f-2bf6-78f6-8cf1-65d734b39125_terseLabel_en-US" xlink:label="lab_ifrs-full_CapitalCommitments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total commitments</link:label>
    <link:label id="lab_ifrs-full_CapitalCommitments_label_en-US" xlink:label="lab_ifrs-full_CapitalCommitments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Capital commitments</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CapitalCommitments" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_CapitalCommitments"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CapitalCommitments" xlink:to="lab_ifrs-full_CapitalCommitments" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_AccumulatedDepreciationAndAmortisationMember_019e3b4c-398c-7f34-9af1-c50c3d861f0e_verboseLabel_en-US" xlink:label="lab_ifrs-full_AccumulatedDepreciationAndAmortisationMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Accumulated depreciation:</link:label>
    <link:label id="lab_ifrs-full_AccumulatedDepreciationAndAmortisationMember_019e3b4c-398c-79ea-8ec5-bf3cfd10c70d_terseLabel_en-US" xlink:label="lab_ifrs-full_AccumulatedDepreciationAndAmortisationMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accumulated amortization</link:label>
    <link:label id="lab_ifrs-full_AccumulatedDepreciationAndAmortisationMember_label_en-US" xlink:label="lab_ifrs-full_AccumulatedDepreciationAndAmortisationMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accumulated depreciation and amortisation [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AccumulatedDepreciationAndAmortisationMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_AccumulatedDepreciationAndAmortisationMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AccumulatedDepreciationAndAmortisationMember" xlink:to="lab_ifrs-full_AccumulatedDepreciationAndAmortisationMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_TypesOfInvestmentPropertyDomain_019e3b4c-3a5a-72f8-9152-36de7eaf6858_terseLabel_en-US" xlink:label="lab_ifrs-full_TypesOfInvestmentPropertyDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Types of investment property [domain]</link:label>
    <link:label id="lab_ifrs-full_TypesOfInvestmentPropertyDomain_label_en-US" xlink:label="lab_ifrs-full_TypesOfInvestmentPropertyDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Types of investment property [domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_TypesOfInvestmentPropertyDomain" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_TypesOfInvestmentPropertyDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_TypesOfInvestmentPropertyDomain" xlink:to="lab_ifrs-full_TypesOfInvestmentPropertyDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_RetainedEarningsMember_019e3b4c-398b-7cd6-820a-01994b1391ad_terseLabel_en-US" xlink:label="lab_ifrs-full_RetainedEarningsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Retained earnings</link:label>
    <link:label id="lab_ifrs-full_RetainedEarningsMember_label_en-US" xlink:label="lab_ifrs-full_RetainedEarningsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Retained earnings [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_RetainedEarningsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_RetainedEarningsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_RetainedEarningsMember" xlink:to="lab_ifrs-full_RetainedEarningsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_AccountsPayableAndOtherMember_019e3b4c-3a5a-7a57-a59d-28445b9c49b8_terseLabel_en-US" xlink:label="lab_bpy_AccountsPayableAndOtherMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accounts payable and other</link:label>
    <link:label id="lab_bpy_AccountsPayableAndOtherMember_label_en-US" xlink:label="lab_bpy_AccountsPayableAndOtherMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounts Payable And Other [Member]</link:label>
    <link:label id="lab_bpy_AccountsPayableAndOtherMember_documentation_en-US" xlink:label="lab_bpy_AccountsPayableAndOtherMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Accounts Payable And Other</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_AccountsPayableAndOtherMember" xlink:href="bpy-20260630.xsd#bpy_AccountsPayableAndOtherMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_AccountsPayableAndOtherMember" xlink:to="lab_bpy_AccountsPayableAndOtherMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_IncomeTaxesAbstract_019e3b4c-3a5a-75b6-9ca1-6006a07dbbaa_terseLabel_en-US" xlink:label="lab_bpy_IncomeTaxesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income Taxes [Abstract]</link:label>
    <link:label id="lab_bpy_IncomeTaxesAbstract_label_en-US" xlink:label="lab_bpy_IncomeTaxesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Taxes [Abstract]</link:label>
    <link:label id="lab_bpy_IncomeTaxesAbstract_documentation_en-US" xlink:label="lab_bpy_IncomeTaxesAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Income Taxes [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_IncomeTaxesAbstract" xlink:href="bpy-20260630.xsd#bpy_IncomeTaxesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_IncomeTaxesAbstract" xlink:to="lab_bpy_IncomeTaxesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_InvestmentIncome_019e3b4c-3a5a-70d5-8a77-cfb622883d66_terseLabel_en-US" xlink:label="lab_ifrs-full_InvestmentIncome" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investment income</link:label>
    <link:label id="lab_ifrs-full_InvestmentIncome_label_en-US" xlink:label="lab_ifrs-full_InvestmentIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment income</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_InvestmentIncome" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_InvestmentIncome"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_InvestmentIncome" xlink:to="lab_ifrs-full_InvestmentIncome" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfContingentLiabilitiesTable_019e3b4c-3a5a-7cda-8f0a-1e57b95cf08b_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfContingentLiabilitiesTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of contingent liabilities [table]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfContingentLiabilitiesTable_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfContingentLiabilitiesTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of contingent liabilities [table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfContingentLiabilitiesTable" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfContingentLiabilitiesTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfContingentLiabilitiesTable" xlink:to="lab_ifrs-full_DisclosureOfContingentLiabilitiesTable" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_FinancialInstrumentsAbstract_019e3b4c-3a5a-7595-afa2-4ff242f42606_terseLabel_en-US" xlink:label="lab_bpy_FinancialInstrumentsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Financial Instruments [Abstract]</link:label>
    <link:label id="lab_bpy_FinancialInstrumentsAbstract_label_en-US" xlink:label="lab_bpy_FinancialInstrumentsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial Instruments [Abstract]</link:label>
    <link:label id="lab_bpy_FinancialInstrumentsAbstract_documentation_en-US" xlink:label="lab_bpy_FinancialInstrumentsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financial Instruments [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_FinancialInstrumentsAbstract" xlink:href="bpy-20260630.xsd#bpy_FinancialInstrumentsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_FinancialInstrumentsAbstract" xlink:to="lab_bpy_FinancialInstrumentsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_AssetsAndLiabilitiesNotClassifiedAsHeldForSaleMember_019e3b4c-3a5a-79ef-926f-642683734b51_terseLabel_en-US" xlink:label="lab_ifrs-full_AssetsAndLiabilitiesNotClassifiedAsHeldForSaleMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Assets and liabilities not classified as held for sale</link:label>
    <link:label id="lab_ifrs-full_AssetsAndLiabilitiesNotClassifiedAsHeldForSaleMember_label_en-US" xlink:label="lab_ifrs-full_AssetsAndLiabilitiesNotClassifiedAsHeldForSaleMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets and liabilities not classified as held for sale [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AssetsAndLiabilitiesNotClassifiedAsHeldForSaleMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_AssetsAndLiabilitiesNotClassifiedAsHeldForSaleMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AssetsAndLiabilitiesNotClassifiedAsHeldForSaleMember" xlink:to="lab_ifrs-full_AssetsAndLiabilitiesNotClassifiedAsHeldForSaleMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_ScheduleOfAccountsPayableAndOtherLiabilitiesTableTextBlock_019e3b4c-3ae9-77b9-98ca-5bdc6d41fa02_terseLabel_en-US" xlink:label="lab_bpy_ScheduleOfAccountsPayableAndOtherLiabilitiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Accounts Payable and Other Liabilities</link:label>
    <link:label id="lab_bpy_ScheduleOfAccountsPayableAndOtherLiabilitiesTableTextBlock_label_en-US" xlink:label="lab_bpy_ScheduleOfAccountsPayableAndOtherLiabilitiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule Of Accounts Payable And Other Liabilities [Table Text Block]</link:label>
    <link:label id="lab_bpy_ScheduleOfAccountsPayableAndOtherLiabilitiesTableTextBlock_documentation_en-US" xlink:label="lab_bpy_ScheduleOfAccountsPayableAndOtherLiabilitiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Schedule Of Accounts Payable and Other Liabilities [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_ScheduleOfAccountsPayableAndOtherLiabilitiesTableTextBlock" xlink:href="bpy-20260630.xsd#bpy_ScheduleOfAccountsPayableAndOtherLiabilitiesTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_ScheduleOfAccountsPayableAndOtherLiabilitiesTableTextBlock" xlink:to="lab_bpy_ScheduleOfAccountsPayableAndOtherLiabilitiesTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ChangesInInvestmentPropertyAbstract_019e3b4c-3a5a-7cd9-a9f6-942939cbe021_terseLabel_en-US" xlink:label="lab_ifrs-full_ChangesInInvestmentPropertyAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Changes resulting from:</link:label>
    <link:label id="lab_ifrs-full_ChangesInInvestmentPropertyAbstract_label_en-US" xlink:label="lab_ifrs-full_ChangesInInvestmentPropertyAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Changes in investment property [abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ChangesInInvestmentPropertyAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ChangesInInvestmentPropertyAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ChangesInInvestmentPropertyAbstract" xlink:to="lab_ifrs-full_ChangesInInvestmentPropertyAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ReclassificationAdjustmentsOnExchangeDifferencesOnTranslationNetOfTax_019e3b4c-3ae9-70dd-b6b4-c40559b75f88_negatedTerseLabel_en-US" xlink:label="lab_ifrs-full_ReclassificationAdjustmentsOnExchangeDifferencesOnTranslationNetOfTax" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Reclassification of realized foreign currency translation gains to net income on dispositions of foreign operations</link:label>
    <link:label id="lab_ifrs-full_ReclassificationAdjustmentsOnExchangeDifferencesOnTranslationNetOfTax_label_en-US" xlink:label="lab_ifrs-full_ReclassificationAdjustmentsOnExchangeDifferencesOnTranslationNetOfTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reclassification adjustments on exchange differences on translation of foreign operations, net of tax</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ReclassificationAdjustmentsOnExchangeDifferencesOnTranslationNetOfTax" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ReclassificationAdjustmentsOnExchangeDifferencesOnTranslationNetOfTax"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ReclassificationAdjustmentsOnExchangeDifferencesOnTranslationNetOfTax" xlink:to="lab_ifrs-full_ReclassificationAdjustmentsOnExchangeDifferencesOnTranslationNetOfTax" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_GamingAndOtherLeisureActivitiesMember_019e3b4c-398b-735e-8dc8-0bec1574e039_terseLabel_en-US" xlink:label="lab_bpy_GamingAndOtherLeisureActivitiesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other leisure activities</link:label>
    <link:label id="lab_bpy_GamingAndOtherLeisureActivitiesMember_label_en-US" xlink:label="lab_bpy_GamingAndOtherLeisureActivitiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gaming, And Other Leisure Activities [Member]</link:label>
    <link:label id="lab_bpy_GamingAndOtherLeisureActivitiesMember_documentation_en-US" xlink:label="lab_bpy_GamingAndOtherLeisureActivitiesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Gaming, And Other Leisure Activities [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_GamingAndOtherLeisureActivitiesMember" xlink:href="bpy-20260630.xsd#bpy_GamingAndOtherLeisureActivitiesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_GamingAndOtherLeisureActivitiesMember" xlink:to="lab_bpy_GamingAndOtherLeisureActivitiesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DepreciationAndAmortisationExpense_019e3b4c-3a5a-798a-b2e5-b776338a2d40_terseLabel_en-US" xlink:label="lab_ifrs-full_DepreciationAndAmortisationExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Depreciation and amortization</link:label>
    <link:label id="lab_ifrs-full_DepreciationAndAmortisationExpense_label_en-US" xlink:label="lab_ifrs-full_DepreciationAndAmortisationExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Depreciation and amortisation expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DepreciationAndAmortisationExpense" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DepreciationAndAmortisationExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DepreciationAndAmortisationExpense" xlink:to="lab_ifrs-full_DepreciationAndAmortisationExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_currency_GBP_019e3b4c-398b-735f-8fe6-884c6f4ee0cd_terseLabel_en-US" xlink:label="lab_currency_GBP" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">British Pounds</link:label>
    <link:label id="lab_currency_GBP_label_en-US" xlink:label="lab_currency_GBP" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">United Kingdom, Pounds</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_currency_GBP" xlink:href="https://xbrl.sec.gov/currency/2025/currency-2025.xsd#currency_GBP"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_currency_GBP" xlink:to="lab_currency_GBP" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DescriptionOfDiscountRatesUsedInCurrentEstimateOfValueInUse_019e3b4c-3a5a-7e0b-afd9-eaf84db04249_terseLabel_en-US" xlink:label="lab_ifrs-full_DescriptionOfDiscountRatesUsedInCurrentEstimateOfValueInUse" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Discount rate</link:label>
    <link:label id="lab_ifrs-full_DescriptionOfDiscountRatesUsedInCurrentEstimateOfValueInUse_label_en-US" xlink:label="lab_ifrs-full_DescriptionOfDiscountRatesUsedInCurrentEstimateOfValueInUse" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Discount rate used in current estimate of value in use</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DescriptionOfDiscountRatesUsedInCurrentEstimateOfValueInUse" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DescriptionOfDiscountRatesUsedInCurrentEstimateOfValueInUse"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DescriptionOfDiscountRatesUsedInCurrentEstimateOfValueInUse" xlink:to="lab_ifrs-full_DescriptionOfDiscountRatesUsedInCurrentEstimateOfValueInUse" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_TypesOfInvestmentPropertyAxis_019e3b4c-3ae8-7303-8a1c-a59b3d84a0d5_terseLabel_en-US" xlink:label="lab_ifrs-full_TypesOfInvestmentPropertyAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Types of investment property [axis]</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_TypesOfInvestmentPropertyAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_TypesOfInvestmentPropertyAxis"/>
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    <link:label id="lab_bpy_NonControllingInterest1Abstract_label_en-US" xlink:label="lab_bpy_NonControllingInterest1Abstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-Controlling Interest 1 [Abstract]</link:label>
    <link:label id="lab_bpy_NonControllingInterest1Abstract_documentation_en-US" xlink:label="lab_bpy_NonControllingInterest1Abstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Non-Controlling Interest [Abstract]</link:label>
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    <link:label id="lab_bpy_DisclosureOfFinancialAssetsAndLiabilitiesLineItems_label_en-US" xlink:label="lab_bpy_DisclosureOfFinancialAssetsAndLiabilitiesLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure Of Financial Assets And Liabilities [Line Items]</link:label>
    <link:label id="lab_bpy_DisclosureOfFinancialAssetsAndLiabilitiesLineItems_documentation_en-US" xlink:label="lab_bpy_DisclosureOfFinancialAssetsAndLiabilitiesLineItems" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">[Line Items] for Disclosure Of Financial Assets And Liabilities [Table]</link:label>
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    <link:label id="lab_ifrs-full_CategoriesOfFinancialAssetsDomain_019e3b4c-3a5a-7b7f-ad2b-db1146c25e0b_terseLabel_en-US" xlink:label="lab_ifrs-full_CategoriesOfFinancialAssetsDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Categories of financial assets</link:label>
    <link:label id="lab_ifrs-full_CategoriesOfFinancialAssetsDomain_label_en-US" xlink:label="lab_ifrs-full_CategoriesOfFinancialAssetsDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Categories of financial assets [domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CategoriesOfFinancialAssetsDomain" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_CategoriesOfFinancialAssetsDomain"/>
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    <link:label id="lab_bpy_RevenueFromTenantsOther_label_en-US" xlink:label="lab_bpy_RevenueFromTenantsOther" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revenue From Tenants, Other</link:label>
    <link:label id="lab_bpy_RevenueFromTenantsOther_documentation_en-US" xlink:label="lab_bpy_RevenueFromTenantsOther" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Revenue From Tenants, Other</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_RevenueFromTenantsOther" xlink:href="bpy-20260630.xsd#bpy_RevenueFromTenantsOther"/>
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    <link:label id="lab_bpy_LimitedPartnerUnitsMember_019edb91-8637-7032-ade3-bc195574b5d6_verboseLabel_en-US" xlink:label="lab_bpy_LimitedPartnerUnitsMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">New LP Preferred Units</link:label>
    <link:label id="lab_bpy_LimitedPartnerUnitsMember_019e3b4c-398b-7054-97af-4db4872a1cda_terseLabel_en-US" xlink:label="lab_bpy_LimitedPartnerUnitsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Limited Partner Units</link:label>
    <link:label id="lab_bpy_LimitedPartnerUnitsMember_label_en-US" xlink:label="lab_bpy_LimitedPartnerUnitsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Limited Partner Units [Member]</link:label>
    <link:label id="lab_bpy_LimitedPartnerUnitsMember_documentation_en-US" xlink:label="lab_bpy_LimitedPartnerUnitsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Limited Partner Units</link:label>
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    <link:label id="lab_ifrs-full_DisclosureOfInformationAboutUnconsolidatedSubsidiariesTable_019e3b4c-398b-7779-af15-e70dbd5d2c82_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfInformationAboutUnconsolidatedSubsidiariesTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of information about unconsolidated subsidiaries [table]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfInformationAboutUnconsolidatedSubsidiariesTable_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfInformationAboutUnconsolidatedSubsidiariesTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of information about unconsolidated subsidiaries [table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfInformationAboutUnconsolidatedSubsidiariesTable" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfInformationAboutUnconsolidatedSubsidiariesTable"/>
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    <link:label id="lab_ifrs-full_CarryingAmountMember_019e3b4c-3ae9-7e61-b728-86e23be5243b_terseLabel_en-US" xlink:label="lab_ifrs-full_CarryingAmountMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Carrying amount</link:label>
    <link:label id="lab_ifrs-full_CarryingAmountMember_label_en-US" xlink:label="lab_ifrs-full_CarryingAmountMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Carrying amount [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CarryingAmountMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_CarryingAmountMember"/>
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    <link:label id="lab_ifrs-full_PercentageOfReasonablyPossibleIncreaseInUnobservableInputAssets_019e3b4c-3ae9-76b8-a1da-0bd7f57444f1_terseLabel_en-US" xlink:label="lab_ifrs-full_PercentageOfReasonablyPossibleIncreaseInUnobservableInputAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of reasonably possible increase in unobservable input, assets</link:label>
    <link:label id="lab_ifrs-full_PercentageOfReasonablyPossibleIncreaseInUnobservableInputAssets_label_en-US" xlink:label="lab_ifrs-full_PercentageOfReasonablyPossibleIncreaseInUnobservableInputAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage of reasonably possible increase in unobservable input, assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_PercentageOfReasonablyPossibleIncreaseInUnobservableInputAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_PercentageOfReasonablyPossibleIncreaseInUnobservableInputAssets"/>
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    <link:label id="lab_bpy_InterestRateCapsOfDKKCIBORDebtMember_019edea4-9cb7-7e43-b607-ddcf19d11794_terseLabel_en-US" xlink:label="lab_bpy_InterestRateCapsOfDKKCIBORDebtMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest rate caps of DKK CIBOR debt</link:label>
    <link:label id="lab_bpy_InterestRateCapsOfDKKCIBORDebtMember_label_en-US" xlink:label="lab_bpy_InterestRateCapsOfDKKCIBORDebtMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Rate Caps of DKK CIBOR Debt [Member]</link:label>
    <link:label id="lab_bpy_InterestRateCapsOfDKKCIBORDebtMember_documentation_en-US" xlink:label="lab_bpy_InterestRateCapsOfDKKCIBORDebtMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Interest Rate Caps of DKK CIBOR Debt</link:label>
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    <link:label id="lab_ifrs-full_CurrentDerivativeFinancialAssets_019e3b4c-3a5a-74bf-8572-46923d324a58_terseLabel_en-US" xlink:label="lab_ifrs-full_CurrentDerivativeFinancialAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative assets</link:label>
    <link:label id="lab_ifrs-full_CurrentDerivativeFinancialAssets_label_en-US" xlink:label="lab_ifrs-full_CurrentDerivativeFinancialAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current derivative financial assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CurrentDerivativeFinancialAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_CurrentDerivativeFinancialAssets"/>
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    <link:label id="lab_ifrs-full_UnobservableInputsDomain_019e3b4c-398b-772f-83b8-828b81faedd7_terseLabel_en-US" xlink:label="lab_ifrs-full_UnobservableInputsDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unobservable inputs [domain]</link:label>
    <link:label id="lab_ifrs-full_UnobservableInputsDomain_label_en-US" xlink:label="lab_ifrs-full_UnobservableInputsDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unobservable inputs [domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_UnobservableInputsDomain" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_UnobservableInputsDomain"/>
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    <link:label id="lab_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis_019e3b4c-398b-7447-a1e3-488e60d8f6e0_terseLabel_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real Estate, Type of Property [Axis]</link:label>
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    <link:label id="lab_ifrs-full_FairValueOfInvestmentsInEquityInstrumentsDesignatedAsMeasuredAtFairValueThroughOtherComprehensiveIncome_019e3b4c-3a5a-7584-9936-8c5d10802f25_terseLabel_en-US" xlink:label="lab_ifrs-full_FairValueOfInvestmentsInEquityInstrumentsDesignatedAsMeasuredAtFairValueThroughOtherComprehensiveIncome" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Securities - FVTOCI</link:label>
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    <link:label id="lab_srt_RetailSiteMember_019e3b4c-3ae9-7c07-b1cc-70ac09c7eb94_terseLabel_en-US" xlink:label="lab_srt_RetailSiteMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Retail</link:label>
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    <link:label id="lab_bpy_OtherNoncontrollingInterestsAbstract_019e3b4c-398b-77d9-a34c-7cb295f57200_verboseLabel_en-US" xlink:label="lab_bpy_OtherNoncontrollingInterestsAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Interest of others in operating subsidiaries and properties:</link:label>
    <link:label id="lab_bpy_OtherNoncontrollingInterestsAbstract_label_en-US" xlink:label="lab_bpy_OtherNoncontrollingInterestsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Noncontrolling Interests [Abstract]</link:label>
    <link:label id="lab_bpy_OtherNoncontrollingInterestsAbstract_documentation_en-US" xlink:label="lab_bpy_OtherNoncontrollingInterestsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other Noncontrolling Interests [Abstract]</link:label>
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    <link:label id="lab_bpy_InterestPaidExcludingDividendsonCapitalSecuritiesClassifiedAsSupplementalCashFlowDisclosure_label_en-US" xlink:label="lab_bpy_InterestPaidExcludingDividendsonCapitalSecuritiesClassifiedAsSupplementalCashFlowDisclosure" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Paid (Excluding Dividends on Capital Securities) Classified As Supplemental Cash Flow Disclosure</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_bpy_InterestPaidExcludingDividendsonCapitalSecuritiesClassifiedAsSupplementalCashFlowDisclosure" xlink:href="bpy-20260630.xsd#bpy_InterestPaidExcludingDividendsonCapitalSecuritiesClassifiedAsSupplementalCashFlowDisclosure"/>
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    <link:label id="lab_ifrs-full_RightofuseAssets_label_en-US" xlink:label="lab_ifrs-full_RightofuseAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Right-of-use assets</link:label>
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    <link:label id="lab_ifrs-full_DisclosureOfInvestmentPropertyTable_019e3b4c-3a5a-73e1-91a3-da2b31bfde25_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfInvestmentPropertyTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about investment property [table]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfInvestmentPropertyTable_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfInvestmentPropertyTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about investment property [table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfInvestmentPropertyTable" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfInvestmentPropertyTable"/>
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    <link:label id="lab_bpy_DividendsPaidPreferred_label_en-US" xlink:label="lab_bpy_DividendsPaidPreferred" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividends Paid, Preferred</link:label>
    <link:label id="lab_bpy_DividendsPaidPreferred_documentation_en-US" xlink:label="lab_bpy_DividendsPaidPreferred" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Dividends Paid, Preferred</link:label>
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    <link:label id="lab_bpy_BrookfieldOfficePropertiesInc.BPOSubordinatedNotesMember_019edb3c-5d72-779b-938e-4bdd54aa221c_terseLabel_en-US" xlink:label="lab_bpy_BrookfieldOfficePropertiesInc.BPOSubordinatedNotesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Brookfield Office Properties Inc. (&#8220;BPO&#8221;) subordinated notes</link:label>
    <link:label id="lab_bpy_BrookfieldOfficePropertiesInc.BPOSubordinatedNotesMember_label_en-US" xlink:label="lab_bpy_BrookfieldOfficePropertiesInc.BPOSubordinatedNotesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Brookfield Office Properties Inc. (&#8220;BPO&#8221;) Subordinated Notes [Member]</link:label>
    <link:label id="lab_bpy_BrookfieldOfficePropertiesInc.BPOSubordinatedNotesMember_documentation_en-US" xlink:label="lab_bpy_BrookfieldOfficePropertiesInc.BPOSubordinatedNotesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Brookfield Office Properties Inc. (&#8220;BPO&#8221;) Subordinated Notes</link:label>
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    <link:label id="lab_bpy_TypesOfDerivativesAxis_label_en-US" xlink:label="lab_bpy_TypesOfDerivativesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Types of Derivatives [Axis]</link:label>
    <link:label id="lab_bpy_TypesOfDerivativesAxis_documentation_en-US" xlink:label="lab_bpy_TypesOfDerivativesAxis" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Types of Derivatives</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_TypesOfDerivativesAxis" xlink:href="bpy-20260630.xsd#bpy_TypesOfDerivativesAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_TypesOfDerivativesAxis" xlink:to="lab_bpy_TypesOfDerivativesAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_NetAssetsLiabilities_019e3b4c-398b-775b-b06f-18b2a4f158ed_totalLabel_en-US" xlink:label="lab_ifrs-full_NetAssetsLiabilities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net assets</link:label>
    <link:label id="lab_ifrs-full_NetAssetsLiabilities_label_en-US" xlink:label="lab_ifrs-full_NetAssetsLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets (liabilities)</link:label>
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    <link:label id="lab_bpy_OtherMarketableSecuritiesMember_019e3b4c-3a5a-7749-b157-e71750148b34_terseLabel_en-US" xlink:label="lab_bpy_OtherMarketableSecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other marketable securities</link:label>
    <link:label id="lab_bpy_OtherMarketableSecuritiesMember_label_en-US" xlink:label="lab_bpy_OtherMarketableSecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Marketable Securities [Member]</link:label>
    <link:label id="lab_bpy_OtherMarketableSecuritiesMember_documentation_en-US" xlink:label="lab_bpy_OtherMarketableSecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other Marketable Securities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_OtherMarketableSecuritiesMember" xlink:href="bpy-20260630.xsd#bpy_OtherMarketableSecuritiesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_OtherMarketableSecuritiesMember" xlink:to="lab_bpy_OtherMarketableSecuritiesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_InterestRateCapsOfGBPSONIADebtMember_019e3b4c-3a5a-7fe5-8ee4-ed92baae3052_terseLabel_en-US" xlink:label="lab_bpy_InterestRateCapsOfGBPSONIADebtMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest rate caps of &#163; SONIA debt</link:label>
    <link:label id="lab_bpy_InterestRateCapsOfGBPSONIADebtMember_label_en-US" xlink:label="lab_bpy_InterestRateCapsOfGBPSONIADebtMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Rate Caps Of GBP SONIA Debt [Member]</link:label>
    <link:label id="lab_bpy_InterestRateCapsOfGBPSONIADebtMember_documentation_en-US" xlink:label="lab_bpy_InterestRateCapsOfGBPSONIADebtMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Interest Rate Caps Of GBP SONIA Debt</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_InterestRateCapsOfGBPSONIADebtMember" xlink:href="bpy-20260630.xsd#bpy_InterestRateCapsOfGBPSONIADebtMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_InterestRateCapsOfGBPSONIADebtMember" xlink:to="lab_bpy_InterestRateCapsOfGBPSONIADebtMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_TransactionExpense_019e3b4c-3ae9-7230-bf7f-dfd90c5efd95_terseLabel_en-US" xlink:label="lab_bpy_TransactionExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Transaction costs</link:label>
    <link:label id="lab_bpy_TransactionExpense_label_en-US" xlink:label="lab_bpy_TransactionExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Transaction Expense</link:label>
    <link:label id="lab_bpy_TransactionExpense_documentation_en-US" xlink:label="lab_bpy_TransactionExpense" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Transaction Expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_TransactionExpense" xlink:href="bpy-20260630.xsd#bpy_TransactionExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_TransactionExpense" xlink:to="lab_bpy_TransactionExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CostOfSalesHotelOperations_019e3b4c-398b-77a8-a50b-48c9e97d400d_terseLabel_en-US" xlink:label="lab_ifrs-full_CostOfSalesHotelOperations" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cost of food, beverage, and retail goods sold</link:label>
    <link:label id="lab_ifrs-full_CostOfSalesHotelOperations_label_en-US" xlink:label="lab_ifrs-full_CostOfSalesHotelOperations" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cost of sales, hotel operations</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CostOfSalesHotelOperations" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_CostOfSalesHotelOperations"/>
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    <link:label id="lab_bpy_BorrowingsDebtObligationIssuanceNetOfRepayments_label_en-US" xlink:label="lab_bpy_BorrowingsDebtObligationIssuanceNetOfRepayments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Borrowings, Debt Obligation Issuance, Net Of Repayments</link:label>
    <link:label id="lab_bpy_BorrowingsDebtObligationIssuanceNetOfRepayments_documentation_en-US" xlink:label="lab_bpy_BorrowingsDebtObligationIssuanceNetOfRepayments" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Borrowings, Debt Obligation Issuance, Net Of Repayments</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_BorrowingsDebtObligationIssuanceNetOfRepayments" xlink:href="bpy-20260630.xsd#bpy_BorrowingsDebtObligationIssuanceNetOfRepayments"/>
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    <link:label id="lab_ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract_019e3b4c-398b-7e25-95e6-7746863301d0_verboseLabel_en-US" xlink:label="lab_ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Items that may be reclassified to net income (loss):</link:label>
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    <link:label id="lab_ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract_label_en-US" xlink:label="lab_ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Components of other comprehensive income that will be reclassified to profit or loss, net of tax [abstract]</link:label>
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    <link:label id="lab_ifrs-full_FinancialAssetsAtFairValue_019edf8d-befd-7ec4-b256-e1675522dab8_verboseLabel_en-US" xlink:label="lab_ifrs-full_FinancialAssetsAtFairValue" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Financial assets</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_FinancialAssetsAtFairValue" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_FinancialAssetsAtFairValue"/>
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    <link:label id="lab_ifrs-full_DerivativesMember_019e3b4c-398b-70f0-958a-484efeb06fb3_terseLabel_en-US" xlink:label="lab_ifrs-full_DerivativesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivatives</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DerivativesMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DerivativesMember"/>
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    <link:label id="lab_ifrs-full_CurrentRestrictedCashAndCashEquivalents_019e3b4c-398b-7c51-a1a1-b68103711d9f_terseLabel_en-US" xlink:label="lab_ifrs-full_CurrentRestrictedCashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Restricted cash and deposits</link:label>
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    <link:label id="lab_ifrs-full_Equity_019e3b4c-3a5a-7454-a45d-aed03386526b_totalLabel_en-US" xlink:label="lab_ifrs-full_Equity" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total equity</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_Equity" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_Equity"/>
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    <link:label id="lab_bpy_DisclosureOfAssetsAndLiabilitiesClassifiedAsHeldForSaleTableTextBlock_documentation_en-US" xlink:label="lab_bpy_DisclosureOfAssetsAndLiabilitiesClassifiedAsHeldForSaleTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure Of Assets And Liabilities Classified As Held For Sale [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_DisclosureOfAssetsAndLiabilitiesClassifiedAsHeldForSaleTableTextBlock" xlink:href="bpy-20260630.xsd#bpy_DisclosureOfAssetsAndLiabilitiesClassifiedAsHeldForSaleTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_DisclosureOfAssetsAndLiabilitiesClassifiedAsHeldForSaleTableTextBlock" xlink:to="lab_bpy_DisclosureOfAssetsAndLiabilitiesClassifiedAsHeldForSaleTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_CashPaidForAbstract_019e3b4c-3ae9-77cb-925c-0a7683961cac_terseLabel_en-US" xlink:label="lab_bpy_CashPaidForAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash paid for:</link:label>
    <link:label id="lab_bpy_CashPaidForAbstract_label_en-US" xlink:label="lab_bpy_CashPaidForAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash Paid For [Abstract]</link:label>
    <link:label id="lab_bpy_CashPaidForAbstract_documentation_en-US" xlink:label="lab_bpy_CashPaidForAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Cash Paid For [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_CashPaidForAbstract" xlink:href="bpy-20260630.xsd#bpy_CashPaidForAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_CashPaidForAbstract" xlink:to="lab_bpy_CashPaidForAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_PropertyTaxExpense_019e3b4c-3a5a-74a3-8b89-10522dab6367_terseLabel_en-US" xlink:label="lab_ifrs-full_PropertyTaxExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real estate taxes</link:label>
    <link:label id="lab_ifrs-full_PropertyTaxExpense_label_en-US" xlink:label="lab_ifrs-full_PropertyTaxExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property tax expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_PropertyTaxExpense" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_PropertyTaxExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_PropertyTaxExpense" xlink:to="lab_ifrs-full_PropertyTaxExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_AffiliatedEntityMember_019edb99-c81f-76ea-b5aa-fb7c0b2de7dd_terseLabel_en-US" xlink:label="lab_srt_AffiliatedEntityMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Affiliated Entity</link:label>
    <link:label id="lab_srt_AffiliatedEntityMember_label_en-US" xlink:label="lab_srt_AffiliatedEntityMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Affiliated Entity [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_AffiliatedEntityMember" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_AffiliatedEntityMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_AffiliatedEntityMember" xlink:to="lab_srt_AffiliatedEntityMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_NonCashChangesInBorrowingsAbstract_019e3b4c-3a5a-7c74-8c68-588ed538504b_terseLabel_en-US" xlink:label="lab_bpy_NonCashChangesInBorrowingsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-cash changes in debt obligations:</link:label>
    <link:label id="lab_bpy_NonCashChangesInBorrowingsAbstract_label_en-US" xlink:label="lab_bpy_NonCashChangesInBorrowingsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non Cash Changes In Borrowings [Abstract]</link:label>
    <link:label id="lab_bpy_NonCashChangesInBorrowingsAbstract_documentation_en-US" xlink:label="lab_bpy_NonCashChangesInBorrowingsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Non Cash Changes In Borrowings [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_NonCashChangesInBorrowingsAbstract" xlink:href="bpy-20260630.xsd#bpy_NonCashChangesInBorrowingsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_NonCashChangesInBorrowingsAbstract" xlink:to="lab_bpy_NonCashChangesInBorrowingsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_SubsidiaryBorrowingsMember_019e3b4c-398b-7d8a-a217-c56db407987b_terseLabel_en-US" xlink:label="lab_bpy_SubsidiaryBorrowingsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subsidiary borrowings</link:label>
    <link:label id="lab_bpy_SubsidiaryBorrowingsMember_label_en-US" xlink:label="lab_bpy_SubsidiaryBorrowingsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsidiary Borrowings [Member]</link:label>
    <link:label id="lab_bpy_SubsidiaryBorrowingsMember_documentation_en-US" xlink:label="lab_bpy_SubsidiaryBorrowingsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Subsidiary Borrowings</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_SubsidiaryBorrowingsMember" xlink:href="bpy-20260630.xsd#bpy_SubsidiaryBorrowingsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_SubsidiaryBorrowingsMember" xlink:to="lab_bpy_SubsidiaryBorrowingsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherCurrentLiabilities_019e3b4c-3a5a-7cda-aabd-e504ce093c7b_terseLabel_en-US" xlink:label="lab_ifrs-full_OtherCurrentLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other liabilities</link:label>
    <link:label id="lab_ifrs-full_OtherCurrentLiabilities_label_en-US" xlink:label="lab_ifrs-full_OtherCurrentLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other current liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherCurrentLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_OtherCurrentLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherCurrentLiabilities" xlink:to="lab_ifrs-full_OtherCurrentLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract_019e3b4c-398b-7a70-ab4d-f4b5b2e47dea_terseLabel_en-US" xlink:label="lab_ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Items that will not be reclassified to net income (loss):</link:label>
    <link:label id="lab_ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract_019e3b4c-398b-7a7f-90b2-912549636030_verboseLabel_en-US" xlink:label="lab_ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Items that will not be reclassified to net income:</link:label>
    <link:label id="lab_ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract_label_en-US" xlink:label="lab_ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Components of other comprehensive income that will not be reclassified to profit or loss, net of tax [abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:to="lab_ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_Level1OfFairValueHierarchyMember_019e3b4c-3a5a-797d-923b-f758dfc3477e_terseLabel_en-US" xlink:label="lab_ifrs-full_Level1OfFairValueHierarchyMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Level 1</link:label>
    <link:label id="lab_ifrs-full_Level1OfFairValueHierarchyMember_label_en-US" xlink:label="lab_ifrs-full_Level1OfFairValueHierarchyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Level 1 of fair value hierarchy [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_Level1OfFairValueHierarchyMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_Level1OfFairValueHierarchyMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_Level1OfFairValueHierarchyMember" xlink:to="lab_ifrs-full_Level1OfFairValueHierarchyMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_BrookfieldPropertyREITInc.JuniorSubordinatedNotesMember_019e3b4c-3a5a-726e-8e5f-d62107dca19a_terseLabel_en-US" xlink:label="lab_bpy_BrookfieldPropertyREITInc.JuniorSubordinatedNotesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">GGP junior subordinated notes</link:label>
    <link:label id="lab_bpy_BrookfieldPropertyREITInc.JuniorSubordinatedNotesMember_label_en-US" xlink:label="lab_bpy_BrookfieldPropertyREITInc.JuniorSubordinatedNotesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Brookfield Property REIT Inc. Junior Subordinated Notes [Member]</link:label>
    <link:label id="lab_bpy_BrookfieldPropertyREITInc.JuniorSubordinatedNotesMember_documentation_en-US" xlink:label="lab_bpy_BrookfieldPropertyREITInc.JuniorSubordinatedNotesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Brookfield Property REIT Inc. Junior Subordinated Notes [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_BrookfieldPropertyREITInc.JuniorSubordinatedNotesMember" xlink:href="bpy-20260630.xsd#bpy_BrookfieldPropertyREITInc.JuniorSubordinatedNotesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_BrookfieldPropertyREITInc.JuniorSubordinatedNotesMember" xlink:to="lab_bpy_BrookfieldPropertyREITInc.JuniorSubordinatedNotesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_IncomeTaxesPaidRefund_019e3b4c-3a5a-7ffc-977e-6b8bdb166f59_terseLabel_en-US" xlink:label="lab_ifrs-full_IncomeTaxesPaidRefund" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income taxes, net of refunds received</link:label>
    <link:label id="lab_ifrs-full_IncomeTaxesPaidRefund_label_en-US" xlink:label="lab_ifrs-full_IncomeTaxesPaidRefund" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income taxes paid (refund)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IncomeTaxesPaidRefund" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_IncomeTaxesPaidRefund"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IncomeTaxesPaidRefund" xlink:to="lab_ifrs-full_IncomeTaxesPaidRefund" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_CapitalSecurities_019e3b4c-3a5a-717f-8bee-008e2dca8e4d_totalLabel_en-US" xlink:label="lab_bpy_CapitalSecurities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total capital securities</link:label>
    <link:label id="lab_bpy_CapitalSecurities_019e3b4c-3a5a-744d-9d3f-4ba13d606da7_terseLabel_en-US" xlink:label="lab_bpy_CapitalSecurities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Capital securities</link:label>
    <link:label id="lab_bpy_CapitalSecurities_019e3b4c-3a5a-770b-8ab2-0065f0b1a0de_periodStartLabel_en-US" xlink:label="lab_bpy_CapitalSecurities" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Capital securities, beginning of period</link:label>
    <link:label id="lab_bpy_CapitalSecurities_019e3b4c-3a5a-7d69-80ce-fe281426b4bf_periodEndLabel_en-US" xlink:label="lab_bpy_CapitalSecurities" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Capital securities, end of period</link:label>
    <link:label id="lab_bpy_CapitalSecurities_019e3b4c-3a5a-7938-97f7-a22d9e41e3b1_verboseLabel_en-US" xlink:label="lab_bpy_CapitalSecurities" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Capital securities - fund subsidiaries</link:label>
    <link:label id="lab_bpy_CapitalSecurities_label_en-US" xlink:label="lab_bpy_CapitalSecurities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Capital Securities</link:label>
    <link:label id="lab_bpy_CapitalSecurities_documentation_en-US" xlink:label="lab_bpy_CapitalSecurities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Capital Securities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_CapitalSecurities" xlink:href="bpy-20260630.xsd#bpy_CapitalSecurities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_CapitalSecurities" xlink:to="lab_bpy_CapitalSecurities" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems_019e3b4c-3a5a-7cef-b79c-ba2d18e76fe2_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about property, plant and equipment [line items]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about property, plant and equipment [line items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:to="lab_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DiscountRateMeasurementInputMember_019e3b4c-398b-7e20-97fd-392c9f47bb48_terseLabel_en-US" xlink:label="lab_ifrs-full_DiscountRateMeasurementInputMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">DR</link:label>
    <link:label id="lab_ifrs-full_DiscountRateMeasurementInputMember_label_en-US" xlink:label="lab_ifrs-full_DiscountRateMeasurementInputMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Discount rate, measurement input [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DiscountRateMeasurementInputMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DiscountRateMeasurementInputMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DiscountRateMeasurementInputMember" xlink:to="lab_ifrs-full_DiscountRateMeasurementInputMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_Level2OfFairValueHierarchyMember_019e3b4c-3a5a-719a-9b96-37d75b7b34d1_terseLabel_en-US" xlink:label="lab_ifrs-full_Level2OfFairValueHierarchyMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Level 2</link:label>
    <link:label id="lab_ifrs-full_Level2OfFairValueHierarchyMember_label_en-US" xlink:label="lab_ifrs-full_Level2OfFairValueHierarchyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Level 2 of fair value hierarchy [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_Level2OfFairValueHierarchyMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_Level2OfFairValueHierarchyMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_Level2OfFairValueHierarchyMember" xlink:to="lab_ifrs-full_Level2OfFairValueHierarchyMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DividendsPaidClassifiedAsFinancingActivities_019e3b4c-3a5a-7d6c-9f0c-74c6d9e3a170_negatedTerseLabel_en-US" xlink:label="lab_ifrs-full_DividendsPaidClassifiedAsFinancingActivities" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Distributions</link:label>
    <link:label id="lab_ifrs-full_DividendsPaidClassifiedAsFinancingActivities_label_en-US" xlink:label="lab_ifrs-full_DividendsPaidClassifiedAsFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividends paid, classified as financing activities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DividendsPaidClassifiedAsFinancingActivities" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DividendsPaidClassifiedAsFinancingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DividendsPaidClassifiedAsFinancingActivities" xlink:to="lab_ifrs-full_DividendsPaidClassifiedAsFinancingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_FixturesAndFittingsMember_019e3b4c-3ae9-75e1-88e8-222b94f0f9b0_terseLabel_en-US" xlink:label="lab_ifrs-full_FixturesAndFittingsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Furniture, fixtures and equipment</link:label>
    <link:label id="lab_ifrs-full_FixturesAndFittingsMember_label_en-US" xlink:label="lab_ifrs-full_FixturesAndFittingsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fixtures and fittings [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_FixturesAndFittingsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_FixturesAndFittingsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_FixturesAndFittingsMember" xlink:to="lab_ifrs-full_FixturesAndFittingsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_AggregatedIndividuallyImmaterialJointVenturesMember_019e3b4c-398b-72a4-a8d8-4586fc3aab0d_verboseLabel_en-US" xlink:label="lab_ifrs-full_AggregatedIndividuallyImmaterialJointVenturesMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Aggregated individually immaterial joint ventures</link:label>
    <link:label id="lab_ifrs-full_AggregatedIndividuallyImmaterialJointVenturesMember_label_en-US" xlink:label="lab_ifrs-full_AggregatedIndividuallyImmaterialJointVenturesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Aggregated individually immaterial joint ventures [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AggregatedIndividuallyImmaterialJointVenturesMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_AggregatedIndividuallyImmaterialJointVenturesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AggregatedIndividuallyImmaterialJointVenturesMember" xlink:to="lab_ifrs-full_AggregatedIndividuallyImmaterialJointVenturesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_SalesAndMarketingExpense_019e3b4c-3ae9-7b86-bc79-a69ae4d15f4b_terseLabel_en-US" xlink:label="lab_ifrs-full_SalesAndMarketingExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Marketing and advertising</link:label>
    <link:label id="lab_ifrs-full_SalesAndMarketingExpense_label_en-US" xlink:label="lab_ifrs-full_SalesAndMarketingExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sales and marketing expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_SalesAndMarketingExpense" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_SalesAndMarketingExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_SalesAndMarketingExpense" xlink:to="lab_ifrs-full_SalesAndMarketingExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_RestrictedStockUnitsRSUsMember_019e3b4c-3ae9-7ebf-a60b-9492cd8226c6_terseLabel_en-US" xlink:label="lab_bpy_RestrictedStockUnitsRSUsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Restricted Stock Units (RSUs)</link:label>
    <link:label id="lab_bpy_RestrictedStockUnitsRSUsMember_label_en-US" xlink:label="lab_bpy_RestrictedStockUnitsRSUsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Restricted Stock Units (RSUs) [Member]</link:label>
    <link:label id="lab_bpy_RestrictedStockUnitsRSUsMember_documentation_en-US" xlink:label="lab_bpy_RestrictedStockUnitsRSUsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Restricted Stock Units (RSUs) [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_RestrictedStockUnitsRSUsMember" xlink:href="bpy-20260630.xsd#bpy_RestrictedStockUnitsRSUsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_RestrictedStockUnitsRSUsMember" xlink:to="lab_bpy_RestrictedStockUnitsRSUsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_currency_DKK_019edd95-a222-719b-81b5-a5c52dda9aaa_terseLabel_en-US" xlink:label="lab_currency_DKK" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Danish Krone</link:label>
    <link:label id="lab_currency_DKK_label_en-US" xlink:label="lab_currency_DKK" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Denmark, Kroner</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_currency_DKK" xlink:href="https://xbrl.sec.gov/currency/2025/currency-2025.xsd#currency_DKK"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_currency_DKK" xlink:to="lab_currency_DKK" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_BrookfieldFairfieldU.S.MultifamilyValueAddFundMember_019e3b4c-3a5a-705f-916c-6fa1618a2ffc_terseLabel_en-US" xlink:label="lab_bpy_BrookfieldFairfieldU.S.MultifamilyValueAddFundMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Brookfield Fairfield U.S. Multifamily Value Add Fund</link:label>
    <link:label id="lab_bpy_BrookfieldFairfieldU.S.MultifamilyValueAddFundMember_label_en-US" xlink:label="lab_bpy_BrookfieldFairfieldU.S.MultifamilyValueAddFundMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Brookfield Fairfield U.S. Multifamily Value Add Fund [Member]</link:label>
    <link:label id="lab_bpy_BrookfieldFairfieldU.S.MultifamilyValueAddFundMember_documentation_en-US" xlink:label="lab_bpy_BrookfieldFairfieldU.S.MultifamilyValueAddFundMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Brookfield Fairfield U.S. Multifamily Value Add Fund [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_BrookfieldFairfieldU.S.MultifamilyValueAddFundMember" xlink:href="bpy-20260630.xsd#bpy_BrookfieldFairfieldU.S.MultifamilyValueAddFundMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_BrookfieldFairfieldU.S.MultifamilyValueAddFundMember" xlink:to="lab_bpy_BrookfieldFairfieldU.S.MultifamilyValueAddFundMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_CoreRetailSegmentMember_019ede54-654a-71a4-bc26-0b4411baa652_terseLabel_en-US" xlink:label="lab_bpy_CoreRetailSegmentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Retail</link:label>
    <link:label id="lab_bpy_CoreRetailSegmentMember_label_en-US" xlink:label="lab_bpy_CoreRetailSegmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Core Retail Segment [Member]</link:label>
    <link:label id="lab_bpy_CoreRetailSegmentMember_documentation_en-US" xlink:label="lab_bpy_CoreRetailSegmentMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Core Retail Segment [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_CoreRetailSegmentMember" xlink:href="bpy-20260630.xsd#bpy_CoreRetailSegmentMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_CoreRetailSegmentMember" xlink:to="lab_bpy_CoreRetailSegmentMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DeferredTaxLiabilityAsset_019e3b4c-3a5a-73b3-9815-b767e339f776_terseLabel_en-US" xlink:label="lab_ifrs-full_DeferredTaxLiabilityAsset" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred tax liabilities</link:label>
    <link:label id="lab_ifrs-full_DeferredTaxLiabilityAsset_label_en-US" xlink:label="lab_ifrs-full_DeferredTaxLiabilityAsset" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred tax liability (asset)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DeferredTaxLiabilityAsset" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DeferredTaxLiabilityAsset"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DeferredTaxLiabilityAsset" xlink:to="lab_ifrs-full_DeferredTaxLiabilityAsset" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CurrentLiabilities_019e3b4c-3a5a-7f3b-9997-1cc8adb86785_terseLabel_en-US" xlink:label="lab_ifrs-full_CurrentLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Current liabilities</link:label>
    <link:label id="lab_ifrs-full_CurrentLiabilities_label_en-US" xlink:label="lab_ifrs-full_CurrentLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CurrentLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_CurrentLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CurrentLiabilities" xlink:to="lab_ifrs-full_CurrentLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CashFlowHedgesMember_019e3b4c-398b-7fe8-9963-28eaf58e9ab3_terseLabel_en-US" xlink:label="lab_ifrs-full_CashFlowHedgesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash flow hedges</link:label>
    <link:label id="lab_ifrs-full_CashFlowHedgesMember_label_en-US" xlink:label="lab_ifrs-full_CashFlowHedgesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash flow hedges [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CashFlowHedgesMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_CashFlowHedgesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashFlowHedgesMember" xlink:to="lab_ifrs-full_CashFlowHedgesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_DisclosureOfReconciliationOfChangesInAssetsHeldForSaleTableTextBlock_019e3b4c-3ae9-7a62-80b6-4ec92cf614ed_terseLabel_en-US" xlink:label="lab_bpy_DisclosureOfReconciliationOfChangesInAssetsHeldForSaleTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Changes in Assets Held for Sale</link:label>
    <link:label id="lab_bpy_DisclosureOfReconciliationOfChangesInAssetsHeldForSaleTableTextBlock_label_en-US" xlink:label="lab_bpy_DisclosureOfReconciliationOfChangesInAssetsHeldForSaleTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure Of Reconciliation Of Changes In Assets Held For Sale [Table Text Block]</link:label>
    <link:label id="lab_bpy_DisclosureOfReconciliationOfChangesInAssetsHeldForSaleTableTextBlock_documentation_en-US" xlink:label="lab_bpy_DisclosureOfReconciliationOfChangesInAssetsHeldForSaleTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure Of Reconciliation Of Changes In Assets Held For Sale [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_DisclosureOfReconciliationOfChangesInAssetsHeldForSaleTableTextBlock" xlink:href="bpy-20260630.xsd#bpy_DisclosureOfReconciliationOfChangesInAssetsHeldForSaleTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_DisclosureOfReconciliationOfChangesInAssetsHeldForSaleTableTextBlock" xlink:to="lab_bpy_DisclosureOfReconciliationOfChangesInAssetsHeldForSaleTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_GainLossOnHedgeIneffectivenessRecognisedInProfitOrLoss_019e3b4c-3a5a-7f95-ac51-340efc39d0cb_terseLabel_en-US" xlink:label="lab_ifrs-full_GainLossOnHedgeIneffectivenessRecognisedInProfitOrLoss" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Hedge ineffectiveness recorded in earnings</link:label>
    <link:label id="lab_ifrs-full_GainLossOnHedgeIneffectivenessRecognisedInProfitOrLoss_label_en-US" xlink:label="lab_ifrs-full_GainLossOnHedgeIneffectivenessRecognisedInProfitOrLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gain (loss) on hedge ineffectiveness recognised in profit or loss</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_GainLossOnHedgeIneffectivenessRecognisedInProfitOrLoss" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_GainLossOnHedgeIneffectivenessRecognisedInProfitOrLoss"/>
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    <link:label id="lab_bpy_U.K.AndIrelandShortStayMember_019e3b4c-398b-7809-a865-d2429c9418a7_terseLabel_en-US" xlink:label="lab_bpy_U.K.AndIrelandShortStayMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">U.K. and Ireland Short Stay</link:label>
    <link:label id="lab_bpy_U.K.AndIrelandShortStayMember_label_en-US" xlink:label="lab_bpy_U.K.AndIrelandShortStayMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">U.K. And Ireland Short Stay [Member]</link:label>
    <link:label id="lab_bpy_U.K.AndIrelandShortStayMember_documentation_en-US" xlink:label="lab_bpy_U.K.AndIrelandShortStayMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">U.K. And Ireland Short Stay</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_U.K.AndIrelandShortStayMember" xlink:href="bpy-20260630.xsd#bpy_U.K.AndIrelandShortStayMember"/>
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    <link:label id="lab_bpy_CapitalSecuritiesRollForward_019e3b4c-3a5a-7e6b-b0c0-f5869702f63a_terseLabel_en-US" xlink:label="lab_bpy_CapitalSecuritiesRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Capital Securities [Roll Forward]</link:label>
    <link:label id="lab_bpy_CapitalSecuritiesRollForward_label_en-US" xlink:label="lab_bpy_CapitalSecuritiesRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Capital Securities [Roll Forward]</link:label>
    <link:label id="lab_bpy_CapitalSecuritiesRollForward_documentation_en-US" xlink:label="lab_bpy_CapitalSecuritiesRollForward" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Capital Securities [Roll Forward]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_CapitalSecuritiesRollForward" xlink:href="bpy-20260630.xsd#bpy_CapitalSecuritiesRollForward"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_CapitalSecuritiesRollForward" xlink:to="lab_bpy_CapitalSecuritiesRollForward" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ContinuingAndDiscontinuedOperationsAxis_019e3b4c-398c-7b38-b642-d260f8d66bd7_terseLabel_en-US" xlink:label="lab_ifrs-full_ContinuingAndDiscontinuedOperationsAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Continuing and discontinued operations [axis]</link:label>
    <link:label id="lab_ifrs-full_ContinuingAndDiscontinuedOperationsAxis_label_en-US" xlink:label="lab_ifrs-full_ContinuingAndDiscontinuedOperationsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Continuing and discontinued operations [axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ContinuingAndDiscontinuedOperationsAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ContinuingAndDiscontinuedOperationsAxis"/>
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    <link:label id="lab_ifrs-full_Inventories_019e3b4c-3ae9-77b6-9046-743171e73cf4_terseLabel_en-US" xlink:label="lab_ifrs-full_Inventories" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Inventory</link:label>
    <link:label id="lab_ifrs-full_Inventories_label_en-US" xlink:label="lab_ifrs-full_Inventories" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current inventories</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_Inventories" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_Inventories"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_Inventories" xlink:to="lab_ifrs-full_Inventories" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_NoncontrollingInterestsMember_019e3b4c-3a5a-7b56-a430-9fee2a9d05db_terseLabel_en-US" xlink:label="lab_ifrs-full_NoncontrollingInterestsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-controlling interests</link:label>
    <link:label id="lab_ifrs-full_NoncontrollingInterestsMember_label_en-US" xlink:label="lab_ifrs-full_NoncontrollingInterestsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-controlling interests [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_NoncontrollingInterestsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_NoncontrollingInterestsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_NoncontrollingInterestsMember" xlink:to="lab_ifrs-full_NoncontrollingInterestsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_StraightLineRentRevenue_019e3b4c-3a5a-7b68-b7cc-069f9245b43e_terseLabel_en-US" xlink:label="lab_bpy_StraightLineRentRevenue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Straight-line rent</link:label>
    <link:label id="lab_bpy_StraightLineRentRevenue_label_en-US" xlink:label="lab_bpy_StraightLineRentRevenue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Straight Line Rent Revenue</link:label>
    <link:label id="lab_bpy_StraightLineRentRevenue_documentation_en-US" xlink:label="lab_bpy_StraightLineRentRevenue" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Straight Line Rent Revenue</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_StraightLineRentRevenue" xlink:href="bpy-20260630.xsd#bpy_StraightLineRentRevenue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_StraightLineRentRevenue" xlink:to="lab_bpy_StraightLineRentRevenue" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_StatementOfChangesInEquityAbstract_019e3b4c-3a5a-7169-adb8-49c5d8b85c0e_terseLabel_en-US" xlink:label="lab_ifrs-full_StatementOfChangesInEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statement of changes in equity [abstract]</link:label>
    <link:label id="lab_ifrs-full_StatementOfChangesInEquityAbstract_label_en-US" xlink:label="lab_ifrs-full_StatementOfChangesInEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of changes in equity [abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_StatementOfChangesInEquityAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_StatementOfChangesInEquityAbstract"/>
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    <link:label id="lab_ifrs-full_MeasurementDomain_019e3b4c-398b-74c1-96f6-44b1c1b02e4f_terseLabel_en-US" xlink:label="lab_ifrs-full_MeasurementDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Measurement</link:label>
    <link:label id="lab_ifrs-full_MeasurementDomain_label_en-US" xlink:label="lab_ifrs-full_MeasurementDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Measurement [domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_MeasurementDomain" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_MeasurementDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_MeasurementDomain" xlink:to="lab_ifrs-full_MeasurementDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_currency_NZD_019e3b4c-398b-75dd-a3d7-a709311bc181_terseLabel_en-US" xlink:label="lab_currency_NZD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">New Zealand Dollar</link:label>
    <link:label id="lab_currency_NZD_label_en-US" xlink:label="lab_currency_NZD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">New Zealand, Dollars</link:label>
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    <link:label id="lab_ifrs-full_DisclosureOfFinancialInstrumentsLineItems_019e3b4c-3ae9-73b7-a459-310a7924431a_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfFinancialInstrumentsLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about financial instruments [line items]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfFinancialInstrumentsLineItems_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfFinancialInstrumentsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about financial instruments [line items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfFinancialInstrumentsLineItems" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfFinancialInstrumentsLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfFinancialInstrumentsLineItems" xlink:to="lab_ifrs-full_DisclosureOfFinancialInstrumentsLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_BrookfieldStrategicRealEstatePartnersFundIIIMember_019e3b4c-3ae9-7c61-b0d2-1acad6b1cc2a_terseLabel_en-US" xlink:label="lab_bpy_BrookfieldStrategicRealEstatePartnersFundIIIMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">BSREP III</link:label>
    <link:label id="lab_bpy_BrookfieldStrategicRealEstatePartnersFundIIIMember_label_en-US" xlink:label="lab_bpy_BrookfieldStrategicRealEstatePartnersFundIIIMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Brookfield Strategic Real Estate Partners Fund III [Member]</link:label>
    <link:label id="lab_bpy_BrookfieldStrategicRealEstatePartnersFundIIIMember_documentation_en-US" xlink:label="lab_bpy_BrookfieldStrategicRealEstatePartnersFundIIIMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Brookfield Strategic Real Estate Partners Fund III [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_BrookfieldStrategicRealEstatePartnersFundIIIMember" xlink:href="bpy-20260630.xsd#bpy_BrookfieldStrategicRealEstatePartnersFundIIIMember"/>
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    <link:label id="lab_bpy_CorporateBorrowings_019e3b4c-3a5a-7574-ab4c-34b518c28746_negatedTerseLabel_en-US" xlink:label="lab_bpy_CorporateBorrowings" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Corporate borrowings</link:label>
    <link:label id="lab_bpy_CorporateBorrowings_label_en-US" xlink:label="lab_bpy_CorporateBorrowings" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Corporate Borrowings</link:label>
    <link:label id="lab_bpy_CorporateBorrowings_documentation_en-US" xlink:label="lab_bpy_CorporateBorrowings" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Corporate Borrowings</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_CorporateBorrowings" xlink:href="bpy-20260630.xsd#bpy_CorporateBorrowings"/>
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    <link:label id="lab_bpy_DividendRatePercentOfDistributableCashFlows_019e3b4c-398b-7a5b-9f91-f873f810a90e_terseLabel_en-US" xlink:label="lab_bpy_DividendRatePercentOfDistributableCashFlows" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Dividend rate, percent of distributable cash flows</link:label>
    <link:label id="lab_bpy_DividendRatePercentOfDistributableCashFlows_label_en-US" xlink:label="lab_bpy_DividendRatePercentOfDistributableCashFlows" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividend Rate, Percent Of Distributable Cash Flows</link:label>
    <link:label id="lab_bpy_DividendRatePercentOfDistributableCashFlows_documentation_en-US" xlink:label="lab_bpy_DividendRatePercentOfDistributableCashFlows" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Dividend Rate, Percent Of Distributable Cash Flows</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_DividendRatePercentOfDistributableCashFlows" xlink:href="bpy-20260630.xsd#bpy_DividendRatePercentOfDistributableCashFlows"/>
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    <link:label id="lab_dei_LegalEntityAxis_019e3b4c-3a5a-7164-85f8-5bc74f96c4f0_terseLabel_en-US" xlink:label="lab_dei_LegalEntityAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Legal Entity [Axis]</link:label>
    <link:label id="lab_dei_LegalEntityAxis_label_en-US" xlink:label="lab_dei_LegalEntityAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Legal Entity [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_LegalEntityAxis" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_LegalEntityAxis"/>
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    <link:label id="lab_ifrs-full_DerivativeFinancialAssets_019e3b4c-3a5a-7042-bf40-862950939c28_terseLabel_en-US" xlink:label="lab_ifrs-full_DerivativeFinancialAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative assets</link:label>
    <link:label id="lab_ifrs-full_DerivativeFinancialAssets_label_en-US" xlink:label="lab_ifrs-full_DerivativeFinancialAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative financial assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DerivativeFinancialAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DerivativeFinancialAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DerivativeFinancialAssets" xlink:to="lab_ifrs-full_DerivativeFinancialAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_SignificantInvestmentsInSubsidiariesAxis_019e3b4c-398b-7ce9-a3f2-37bf2568057e_terseLabel_en-US" xlink:label="lab_ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subsidiaries [axis]</link:label>
    <link:label id="lab_ifrs-full_SignificantInvestmentsInSubsidiariesAxis_label_en-US" xlink:label="lab_ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsidiaries [axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_SignificantInvestmentsInSubsidiariesAxis"/>
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    <link:label id="lab_currency_JPY_019e3b4c-3a5a-7566-99c3-f816092cfac8_terseLabel_en-US" xlink:label="lab_currency_JPY" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Japanese Yen</link:label>
    <link:label id="lab_currency_JPY_label_en-US" xlink:label="lab_currency_JPY" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Japan, Yen</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_currency_JPY" xlink:href="https://xbrl.sec.gov/currency/2025/currency-2025.xsd#currency_JPY"/>
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    <link:label id="lab_srt_SegmentGeographicalDomain_019e3b4c-3ae9-7fcf-93d8-485e7abfbfac_terseLabel_en-US" xlink:label="lab_srt_SegmentGeographicalDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Geographical [Domain]</link:label>
    <link:label id="lab_srt_SegmentGeographicalDomain_label_en-US" xlink:label="lab_srt_SegmentGeographicalDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Geographical [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_SegmentGeographicalDomain" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_SegmentGeographicalDomain"/>
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    <link:label id="lab_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading_019e3b4c-398b-797a-811d-e029f2d9c7cd_terseLabel_en-US" xlink:label="lab_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Securities - FVTPL</link:label>
    <link:label id="lab_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading_label_en-US" xlink:label="lab_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial assets at fair value through profit or loss, classified as held for trading</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading"/>
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    <link:label id="lab_ifrs-full_InvestmentPropertyAbstract_019e3b4c-3a5a-779e-b07e-bd3d00cad13f_terseLabel_en-US" xlink:label="lab_ifrs-full_InvestmentPropertyAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investment property [abstract]</link:label>
    <link:label id="lab_ifrs-full_InvestmentPropertyAbstract_label_en-US" xlink:label="lab_ifrs-full_InvestmentPropertyAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment property [abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_InvestmentPropertyAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_InvestmentPropertyAbstract"/>
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    <link:label id="lab_bpy_DisclosureOfInvestmentAndOtherRevenueTableTextBlock_label_en-US" xlink:label="lab_bpy_DisclosureOfInvestmentAndOtherRevenueTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure Of Investment And Other Revenue [Table Text Block]</link:label>
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    <link:label id="lab_ifrs-full_RestrictedCashAndCashEquivalents_label_en-US" xlink:label="lab_ifrs-full_RestrictedCashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Restricted cash and cash equivalents</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_RestrictedCashAndCashEquivalents" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_RestrictedCashAndCashEquivalents"/>
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    <link:label id="lab_bpy_FVLTIPoftheOperatingPartnershipMember_019e3b4c-3a5a-7599-8eea-de6dedfca776_terseLabel_en-US" xlink:label="lab_bpy_FVLTIPoftheOperatingPartnershipMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">FV LTIP of the Operating Partnership</link:label>
    <link:label id="lab_bpy_FVLTIPoftheOperatingPartnershipMember_label_en-US" xlink:label="lab_bpy_FVLTIPoftheOperatingPartnershipMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">FV LTIP of the Operating Partnership [Member]</link:label>
    <link:label id="lab_bpy_FVLTIPoftheOperatingPartnershipMember_documentation_en-US" xlink:label="lab_bpy_FVLTIPoftheOperatingPartnershipMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">FV LTIP of the Operating Partnership [Member]</link:label>
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    <link:label id="lab_ifrs-full_NoncurrentLeaseLiabilities_019e3b4c-3a5a-7a36-9136-56b2982fa318_terseLabel_en-US" xlink:label="lab_ifrs-full_NoncurrentLeaseLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-current lease liabilities</link:label>
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    <link:label id="lab_ifrs-full_NoncurrentLeaseLiabilities_label_en-US" xlink:label="lab_ifrs-full_NoncurrentLeaseLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-current lease liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_NoncurrentLeaseLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_NoncurrentLeaseLiabilities"/>
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    <link:label id="lab_bpy_AssetsHeldForSaleRollForward_019e3b4c-398b-7d7d-971b-2c8ca23da0ac_terseLabel_en-US" xlink:label="lab_bpy_AssetsHeldForSaleRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Assets Held For Sale [Roll Forward]</link:label>
    <link:label id="lab_bpy_AssetsHeldForSaleRollForward_label_en-US" xlink:label="lab_bpy_AssetsHeldForSaleRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets Held For Sale [Roll Forward]</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_bpy_AssetsHeldForSaleRollForward" xlink:href="bpy-20260630.xsd#bpy_AssetsHeldForSaleRollForward"/>
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    <link:label id="lab_bpy_DisclosureOfCapitalSecuritiesClassifiedAsLiabilitiesTextBlock_documentation_en-US" xlink:label="lab_bpy_DisclosureOfCapitalSecuritiesClassifiedAsLiabilitiesTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure Of Capital Securities Classified As Liabilities [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_DisclosureOfCapitalSecuritiesClassifiedAsLiabilitiesTextBlock" xlink:href="bpy-20260630.xsd#bpy_DisclosureOfCapitalSecuritiesClassifiedAsLiabilitiesTextBlock"/>
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    <link:label id="lab_ifrs-full_IntangibleAssetsOtherThanGoodwill_019e3b4c-398b-7132-94ba-6b447331598a_terseLabel_en-US" xlink:label="lab_ifrs-full_IntangibleAssetsOtherThanGoodwill" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Intangible assets</link:label>
    <link:label id="lab_ifrs-full_IntangibleAssetsOtherThanGoodwill_019e3b4c-398b-7c59-a839-9d601b1cf44e_verboseLabel_en-US" xlink:label="lab_ifrs-full_IntangibleAssetsOtherThanGoodwill" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Total intangible assets</link:label>
    <link:label id="lab_ifrs-full_IntangibleAssetsOtherThanGoodwill_019e3b4c-398b-7631-94e0-af542fc94a28_periodStartLabel_en-US" xlink:label="lab_ifrs-full_IntangibleAssetsOtherThanGoodwill" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Balance, beginning of period</link:label>
    <link:label id="lab_ifrs-full_IntangibleAssetsOtherThanGoodwill_019e3b4c-398b-7c4d-959c-bd7cc41451a0_periodEndLabel_en-US" xlink:label="lab_ifrs-full_IntangibleAssetsOtherThanGoodwill" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Balance, end of period</link:label>
    <link:label id="lab_ifrs-full_IntangibleAssetsOtherThanGoodwill_label_en-US" xlink:label="lab_ifrs-full_IntangibleAssetsOtherThanGoodwill" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible assets other than goodwill</link:label>
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    <link:label id="lab_ifrs-full_NoncurrentDerivativeFinancialLiabilities_019e3b4c-398b-72d7-a909-b7d1a6aec8af_terseLabel_en-US" xlink:label="lab_ifrs-full_NoncurrentDerivativeFinancialLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative liabilities</link:label>
    <link:label id="lab_ifrs-full_NoncurrentDerivativeFinancialLiabilities_label_en-US" xlink:label="lab_ifrs-full_NoncurrentDerivativeFinancialLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-current derivative financial liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_NoncurrentDerivativeFinancialLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_NoncurrentDerivativeFinancialLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_NoncurrentDerivativeFinancialLiabilities" xlink:to="lab_ifrs-full_NoncurrentDerivativeFinancialLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_currency_SEK_019e3b4c-398b-796b-bd8b-2bfab36d8a8f_terseLabel_en-US" xlink:label="lab_currency_SEK" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Swedish Krona</link:label>
    <link:label id="lab_currency_SEK_label_en-US" xlink:label="lab_currency_SEK" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sweden, Kronor</link:label>
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    <link:label id="lab_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsTable_019e3b4c-3ae9-7218-8928-e2c56e16933f_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of fair value measurement of assets [table]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsTable_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of fair value measurement of assets [table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsTable" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfFairValueMeasurementOfAssetsTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsTable" xlink:to="lab_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsTable" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_AccumulatedOtherComprehensiveIncomeMember_019e3b4c-3a5a-7dc0-b8c8-4678d1e11081_terseLabel_en-US" xlink:label="lab_ifrs-full_AccumulatedOtherComprehensiveIncomeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accumulated other comprehensive income (loss)</link:label>
    <link:label id="lab_ifrs-full_AccumulatedOtherComprehensiveIncomeMember_label_en-US" xlink:label="lab_ifrs-full_AccumulatedOtherComprehensiveIncomeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accumulated other comprehensive income [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AccumulatedOtherComprehensiveIncomeMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_AccumulatedOtherComprehensiveIncomeMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AccumulatedOtherComprehensiveIncomeMember" xlink:to="lab_ifrs-full_AccumulatedOtherComprehensiveIncomeMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_SegmentsDomain_019e3b4c-398b-7728-8dff-0f0debfae4f2_terseLabel_en-US" xlink:label="lab_ifrs-full_SegmentsDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Segments</link:label>
    <link:label id="lab_ifrs-full_SegmentsDomain_label_en-US" xlink:label="lab_ifrs-full_SegmentsDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Segments [domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_SegmentsDomain" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_SegmentsDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_SegmentsDomain" xlink:to="lab_ifrs-full_SegmentsDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_DisclosureOfDetailedInformationOfHospitalityRevenueTableTextBlock_019e3b4c-3a5a-7d5b-94f4-f8a7785b1254_terseLabel_en-US" xlink:label="lab_bpy_DisclosureOfDetailedInformationOfHospitalityRevenueTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Detailed Information of Hospitality Revenue</link:label>
    <link:label id="lab_bpy_DisclosureOfDetailedInformationOfHospitalityRevenueTableTextBlock_label_en-US" xlink:label="lab_bpy_DisclosureOfDetailedInformationOfHospitalityRevenueTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure Of Detailed Information Of Hospitality Revenue [Table Text Block]</link:label>
    <link:label id="lab_bpy_DisclosureOfDetailedInformationOfHospitalityRevenueTableTextBlock_documentation_en-US" xlink:label="lab_bpy_DisclosureOfDetailedInformationOfHospitalityRevenueTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure Of Detailed Information Of Hospitality Revenue [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_DisclosureOfDetailedInformationOfHospitalityRevenueTableTextBlock" xlink:href="bpy-20260630.xsd#bpy_DisclosureOfDetailedInformationOfHospitalityRevenueTableTextBlock"/>
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    <link:label id="lab_ifrs-full_CashAndCashEquivalents_019e3b4c-3a5a-7743-b978-a93a1ef63741_terseLabel_en-US" xlink:label="lab_ifrs-full_CashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents</link:label>
    <link:label id="lab_ifrs-full_CashAndCashEquivalents_019e3b4c-3a5a-7ed2-abcb-bf0944d3ebf3_periodStartLabel_en-US" xlink:label="lab_ifrs-full_CashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Balance, beginning of period</link:label>
    <link:label id="lab_ifrs-full_CashAndCashEquivalents_019e3b4c-3a5a-7c7f-8528-647a70f6a368_periodEndLabel_en-US" xlink:label="lab_ifrs-full_CashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Balance, end of period</link:label>
    <link:label id="lab_ifrs-full_CashAndCashEquivalents_label_en-US" xlink:label="lab_ifrs-full_CashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CashAndCashEquivalents" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_CashAndCashEquivalents"/>
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    <link:label id="lab_bpy_CoreOfficeSegmentMember_019ede54-3e1d-78f7-83fc-d78657c50ed5_terseLabel_en-US" xlink:label="lab_bpy_CoreOfficeSegmentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Office</link:label>
    <link:label id="lab_bpy_CoreOfficeSegmentMember_label_en-US" xlink:label="lab_bpy_CoreOfficeSegmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Core Office Segment [Member]</link:label>
    <link:label id="lab_bpy_CoreOfficeSegmentMember_documentation_en-US" xlink:label="lab_bpy_CoreOfficeSegmentMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Core Office Segment [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_CoreOfficeSegmentMember" xlink:href="bpy-20260630.xsd#bpy_CoreOfficeSegmentMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_CoreOfficeSegmentMember" xlink:to="lab_bpy_CoreOfficeSegmentMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesTable_019e3b4c-3a5a-7e12-b817-cf46a6a2d4c3_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of maturity analysis for derivative financial liabilities [table]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesTable_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of maturity analysis for derivative financial liabilities [table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesTable" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesTable"/>
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    <link:label id="lab_bpy_DisclosureOfDirectCommercialPropertyExpenseTextBlock_019e3b4c-3a5a-7212-9515-f3e153adb520_verboseLabel_en-US" xlink:label="lab_bpy_DisclosureOfDirectCommercialPropertyExpenseTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">DIRECT COMMERCIAL PROPERTY EXPENSE</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_bpy_DisclosureOfDirectCommercialPropertyExpenseTextBlock" xlink:href="bpy-20260630.xsd#bpy_DisclosureOfDirectCommercialPropertyExpenseTextBlock"/>
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    <link:label id="lab_bpy_DisclosureOfOtherComprehensiveIncomeLossTableTextBlock_019e3b4c-3ae9-70cf-b9c5-4c6c08c5990c_terseLabel_en-US" xlink:label="lab_bpy_DisclosureOfOtherComprehensiveIncomeLossTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Other Comprehensive Income (Losses)</link:label>
    <link:label id="lab_bpy_DisclosureOfOtherComprehensiveIncomeLossTableTextBlock_label_en-US" xlink:label="lab_bpy_DisclosureOfOtherComprehensiveIncomeLossTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure Of Other Comprehensive Income (Loss) [Table Text Block]</link:label>
    <link:label id="lab_bpy_DisclosureOfOtherComprehensiveIncomeLossTableTextBlock_documentation_en-US" xlink:label="lab_bpy_DisclosureOfOtherComprehensiveIncomeLossTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure Of Other Comprehensive Income (Loss)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_DisclosureOfOtherComprehensiveIncomeLossTableTextBlock" xlink:href="bpy-20260630.xsd#bpy_DisclosureOfOtherComprehensiveIncomeLossTableTextBlock"/>
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    <link:label id="lab_bpy_OtherChangesFairValueMeasurementLiabilities_019e3b4c-398b-76aa-b7ff-bb158b263059_terseLabel_en-US" xlink:label="lab_bpy_OtherChangesFairValueMeasurementLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_bpy_OtherChangesFairValueMeasurementLiabilities" xlink:href="bpy-20260630.xsd#bpy_OtherChangesFairValueMeasurementLiabilities"/>
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    <link:label id="lab_bpy_Dispositions1Abstract_019e3b4c-398b-7d5c-a038-9b967727ad2c_terseLabel_en-US" xlink:label="lab_bpy_Dispositions1Abstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Dispositions</link:label>
    <link:label id="lab_bpy_Dispositions1Abstract_label_en-US" xlink:label="lab_bpy_Dispositions1Abstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dispositions1 [Abstract]</link:label>
    <link:label id="lab_bpy_Dispositions1Abstract_documentation_en-US" xlink:label="lab_bpy_Dispositions1Abstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Dispositions1</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_Dispositions1Abstract" xlink:href="bpy-20260630.xsd#bpy_Dispositions1Abstract"/>
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    <link:label id="lab_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesExplanatory_019e3b4c-398b-70c2-ae34-2fc039b9f245_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Related Party Transactions</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesExplanatory_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of transactions between related parties [text block]</link:label>
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    <link:label id="lab_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsExplanatory_019e3b4c-3ae9-7a45-844c-a58ad584a46a_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Partnership&#8217;s Debt Obligations</link:label>
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    <link:label id="lab_bpy_BuildingAndBuildingImprovements1Member_019e3b4c-3ae9-7eaf-9f89-85dc2f82f7fb_terseLabel_en-US" xlink:label="lab_bpy_BuildingAndBuildingImprovements1Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Building and building improvements</link:label>
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    <link:label id="lab_bpy_BuildingAndBuildingImprovements1Member_documentation_en-US" xlink:label="lab_bpy_BuildingAndBuildingImprovements1Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Building and Building Improvements1 [Member]</link:label>
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    <link:label id="lab_ifrs-full_PropertyPlantAndEquipmentAbstract_019e3b4c-398b-7f23-baea-2b5f5a30f696_terseLabel_en-US" xlink:label="lab_ifrs-full_PropertyPlantAndEquipmentAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Property, plant and equipment [abstract]</link:label>
    <link:label id="lab_ifrs-full_PropertyPlantAndEquipmentAbstract_label_en-US" xlink:label="lab_ifrs-full_PropertyPlantAndEquipmentAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property, plant and equipment [abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_PropertyPlantAndEquipmentAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_PropertyPlantAndEquipmentAbstract"/>
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    <link:label id="lab_bpy_LongtermDebtType1Domain_label_en-US" xlink:label="lab_bpy_LongtermDebtType1Domain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-term Debt, Type1 [Domain]</link:label>
    <link:label id="lab_bpy_LongtermDebtType1Domain_documentation_en-US" xlink:label="lab_bpy_LongtermDebtType1Domain" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">[Domain] for Long-term Debt, Type1 [Axis]</link:label>
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    <link:label id="lab_ifrs-full_BusinessCombinationsAxis_label_en-US" xlink:label="lab_ifrs-full_BusinessCombinationsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business combinations [axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_BusinessCombinationsAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_BusinessCombinationsAxis"/>
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    <link:loc xlink:type="locator" xlink:label="loc_bpy_DisclosureOfFairValueMeasurementOfAssetsSensitivityTableTextBlock" xlink:href="bpy-20260630.xsd#bpy_DisclosureOfFairValueMeasurementOfAssetsSensitivityTableTextBlock"/>
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    <link:label id="lab_ifrs-full_BusinessCombinationsDomain_label_en-US" xlink:label="lab_ifrs-full_BusinessCombinationsDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business combinations [domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_BusinessCombinationsDomain" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_BusinessCombinationsDomain"/>
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    <link:label id="lab_bpy_BrookfieldStrategicRealEstatePartnersFund5Member_documentation_en-US" xlink:label="lab_bpy_BrookfieldStrategicRealEstatePartnersFund5Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Brookfield Strategic Real Estate Partners Fund 5</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_bpy_VotingRightsNumberOfVotes" xlink:href="bpy-20260630.xsd#bpy_VotingRightsNumberOfVotes"/>
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    <link:label id="lab_bpy_NoncontrollingInterestInNetIncomeLossLimitedPartnershipsRedeemable1_019e3b4c-3a5a-7c20-87fb-20e3b2f66f96_terseLabel_en-US" xlink:label="lab_bpy_NoncontrollingInterestInNetIncomeLossLimitedPartnershipsRedeemable1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Redeemable/exchangeable and special limited partnership units</link:label>
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    <link:label id="lab_bpy_CoreRetailSectorMember_019e3b4c-398b-79f2-86e2-71c4715aad01_verboseLabel_en-US" xlink:label="lab_bpy_CoreRetailSectorMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Retail</link:label>
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    <link:label id="lab_bpy_PercentageOfNonRecourseMortgagesSuspendedContractualPayment_documentation_en-US" xlink:label="lab_bpy_PercentageOfNonRecourseMortgagesSuspendedContractualPayment" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage Of Non Recourse Mortgages Suspended Contractual Payment</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_PercentageOfNonRecourseMortgagesSuspendedContractualPayment" xlink:href="bpy-20260630.xsd#bpy_PercentageOfNonRecourseMortgagesSuspendedContractualPayment"/>
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    <link:label id="lab_ifrs-full_SecuredBankLoansReceived_019e3b4c-3ae9-7bff-9e80-75d5b3a43ef8_terseLabel_en-US" xlink:label="lab_ifrs-full_SecuredBankLoansReceived" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Secured debt obligations:</link:label>
    <link:label id="lab_ifrs-full_SecuredBankLoansReceived_label_en-US" xlink:label="lab_ifrs-full_SecuredBankLoansReceived" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Secured bank loans received</link:label>
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    <link:label id="lab_ifrs-full_JointVenturesDomain_019e3b4c-3a5a-7180-8c5c-186cef82616a_terseLabel_en-US" xlink:label="lab_ifrs-full_JointVenturesDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Joint ventures</link:label>
    <link:label id="lab_ifrs-full_JointVenturesDomain_label_en-US" xlink:label="lab_ifrs-full_JointVenturesDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Joint ventures [domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_JointVenturesDomain" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_JointVenturesDomain"/>
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    <link:label id="lab_bpy_BrookfieldPropertyREITInc.CorporateFacilityMember_019e3b4c-3ae9-7767-be1c-7ad194f7bec2_terseLabel_en-US" xlink:label="lab_bpy_BrookfieldPropertyREITInc.CorporateFacilityMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">GGP corporate facility</link:label>
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    <link:label id="lab_bpy_BrookfieldPropertyREITInc.CorporateFacilityMember_documentation_en-US" xlink:label="lab_bpy_BrookfieldPropertyREITInc.CorporateFacilityMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Brookfield Property REIT Inc. Corporate Facility [Member]</link:label>
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    <link:label id="lab_bpy_ConstructionAndOtherRelatedCostsCapitalised_label_en-US" xlink:label="lab_bpy_ConstructionAndOtherRelatedCostsCapitalised" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Construction And Other Related Costs Capitalised</link:label>
    <link:label id="lab_bpy_ConstructionAndOtherRelatedCostsCapitalised_documentation_en-US" xlink:label="lab_bpy_ConstructionAndOtherRelatedCostsCapitalised" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Construction And Other Related Costs Capitalised</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_ConstructionAndOtherRelatedCostsCapitalised" xlink:href="bpy-20260630.xsd#bpy_ConstructionAndOtherRelatedCostsCapitalised"/>
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    <link:label id="lab_bpy_InvestmentAccountedForUsingEquityMethodOtherAdjustments_019e3b4c-398b-74a6-94c2-5ef92764c6b8_terseLabel_en-US" xlink:label="lab_bpy_InvestmentAccountedForUsingEquityMethodOtherAdjustments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other comprehensive (loss) income and other</link:label>
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    <link:label id="lab_bpy_InvestmentAccountedForUsingEquityMethodOtherAdjustments_documentation_en-US" xlink:label="lab_bpy_InvestmentAccountedForUsingEquityMethodOtherAdjustments" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Investment Accounted For Using Equity Method, Other Adjustments</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_InvestmentAccountedForUsingEquityMethodOtherAdjustments" xlink:href="bpy-20260630.xsd#bpy_InvestmentAccountedForUsingEquityMethodOtherAdjustments"/>
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    <link:label id="lab_ifrs-full_DisclosureOfDetailedInformationAboutHedgingInstrumentsExplanatory_019e3b4c-398b-79da-9bb0-8c2917ad7b1f_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfDetailedInformationAboutHedgingInstrumentsExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Hedging Instruments</link:label>
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    <link:label id="lab_bpy_InterestRateCapsOfCanadianDollarCORRADebtMember_019ede9b-01bb-7fc4-9b05-2239e652771a_terseLabel_en-US" xlink:label="lab_bpy_InterestRateCapsOfCanadianDollarCORRADebtMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest rate caps of C$ CORRA debt</link:label>
    <link:label id="lab_bpy_InterestRateCapsOfCanadianDollarCORRADebtMember_label_en-US" xlink:label="lab_bpy_InterestRateCapsOfCanadianDollarCORRADebtMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Rate Caps of Canadian Dollar CORRA Debt [Member]</link:label>
    <link:label id="lab_bpy_InterestRateCapsOfCanadianDollarCORRADebtMember_documentation_en-US" xlink:label="lab_bpy_InterestRateCapsOfCanadianDollarCORRADebtMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Interest Rate Caps of Canadian Dollar CORRA Debt</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_InterestRateCapsOfCanadianDollarCORRADebtMember" xlink:href="bpy-20260630.xsd#bpy_InterestRateCapsOfCanadianDollarCORRADebtMember"/>
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    <link:label id="lab_ifrs-full_RevenueFromDividends_019e3b4c-398b-720d-9d44-a4adb402eeee_terseLabel_en-US" xlink:label="lab_ifrs-full_RevenueFromDividends" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Dividend income</link:label>
    <link:label id="lab_ifrs-full_RevenueFromDividends_label_en-US" xlink:label="lab_ifrs-full_RevenueFromDividends" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividend income</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_RevenueFromDividends" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_RevenueFromDividends"/>
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    <link:label id="lab_bpy_BorrowingsAssumedFromBusinessCombination_019eddb1-fcc3-7918-a9c4-d4cd4428fd78_terseLabel_en-US" xlink:label="lab_bpy_BorrowingsAssumedFromBusinessCombination" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Assumed from business combination</link:label>
    <link:label id="lab_bpy_BorrowingsAssumedFromBusinessCombination_label_en-US" xlink:label="lab_bpy_BorrowingsAssumedFromBusinessCombination" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Borrowings, Assumed from Business Combination</link:label>
    <link:label id="lab_bpy_BorrowingsAssumedFromBusinessCombination_documentation_en-US" xlink:label="lab_bpy_BorrowingsAssumedFromBusinessCombination" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Borrowings, Assumed from Business Combination</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_BorrowingsAssumedFromBusinessCombination" xlink:href="bpy-20260630.xsd#bpy_BorrowingsAssumedFromBusinessCombination"/>
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    <link:label id="lab_currency_USD_019e3b4c-3a5a-71f3-97cb-6cc559ea7fc8_terseLabel_en-US" xlink:label="lab_currency_USD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">U.S. Dollars</link:label>
    <link:label id="lab_currency_USD_label_en-US" xlink:label="lab_currency_USD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">United States of America, Dollars</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_currency_USD" xlink:href="https://xbrl.sec.gov/currency/2025/currency-2025.xsd#currency_USD"/>
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    <link:label id="lab_bpy_DisclosureOfDistributionsMadeToPartnersTableTextBlock_019e3b4c-3a5a-74b0-a7e6-d9b35fe04972_terseLabel_en-US" xlink:label="lab_bpy_DisclosureOfDistributionsMadeToPartnersTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Distributions Made to each Class of Partnership Units</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_bpy_DisclosureOfDistributionsMadeToPartnersTableTextBlock" xlink:href="bpy-20260630.xsd#bpy_DisclosureOfDistributionsMadeToPartnersTableTextBlock"/>
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    <link:label id="lab_ifrs-full_UsefulLifeMeasuredAsPeriodOfTimePropertyPlantAndEquipment_019e3b4c-3ae9-732c-9675-64ae705d8e07_terseLabel_en-US" xlink:label="lab_ifrs-full_UsefulLifeMeasuredAsPeriodOfTimePropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Useful life (in years)</link:label>
    <link:label id="lab_ifrs-full_UsefulLifeMeasuredAsPeriodOfTimePropertyPlantAndEquipment_label_en-US" xlink:label="lab_ifrs-full_UsefulLifeMeasuredAsPeriodOfTimePropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Useful life measured as period of time, property, plant and equipment</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_UsefulLifeMeasuredAsPeriodOfTimePropertyPlantAndEquipment" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_UsefulLifeMeasuredAsPeriodOfTimePropertyPlantAndEquipment"/>
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    <link:label id="lab_bpy_InvestmentPropertyReclassificationToHeldForSale_019f8de4-bb31-71c9-983d-750ea89057a0_negatedLabel_en-US" xlink:label="lab_bpy_InvestmentPropertyReclassificationToHeldForSale" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Reclassification to assets held for sale</link:label>
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    <link:label id="lab_bpy_InvestmentPropertyReclassificationToHeldForSale_documentation_en-US" xlink:label="lab_bpy_InvestmentPropertyReclassificationToHeldForSale" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Investment Property, Reclassification To Held For Sale</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_InvestmentPropertyReclassificationToHeldForSale" xlink:href="bpy-20260630.xsd#bpy_InvestmentPropertyReclassificationToHeldForSale"/>
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    <link:label id="lab_bpy_ProceedsFromIssuancesRedeemableExchangeableAndSpecialLimitedPartnershipUnitholders_019e3b4c-3a5a-7aaa-a4da-75572c7f4f07_terseLabel_en-US" xlink:label="lab_bpy_ProceedsFromIssuancesRedeemableExchangeableAndSpecialLimitedPartnershipUnitholders" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Issuances to redeemable/exchangeable and special limited partnership unitholders</link:label>
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    <link:label id="lab_ifrs-full_CategoriesOfFinancialLiabilitiesDomain_label_en-US" xlink:label="lab_ifrs-full_CategoriesOfFinancialLiabilitiesDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Categories of financial liabilities [domain]</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CategoriesOfFinancialLiabilitiesDomain" xlink:to="lab_ifrs-full_CategoriesOfFinancialLiabilitiesDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfRelatedPartyExplanatory_019e3b4c-3a5a-79f7-92ea-e6f4a573d1c4_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfRelatedPartyExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">RELATED PARTIES</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfRelatedPartyExplanatory_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfRelatedPartyExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of related party [text block]</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfRelatedPartyExplanatory" xlink:to="lab_ifrs-full_DisclosureOfRelatedPartyExplanatory" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ClassesOfFinancialAssetsDomain_019e3b4c-3a5a-7678-b91d-fd9528ee61ce_terseLabel_en-US" xlink:label="lab_ifrs-full_ClassesOfFinancialAssetsDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Classes of financial assets</link:label>
    <link:label id="lab_ifrs-full_ClassesOfFinancialAssetsDomain_label_en-US" xlink:label="lab_ifrs-full_ClassesOfFinancialAssetsDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Classes of financial assets [domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ClassesOfFinancialAssetsDomain" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ClassesOfFinancialAssetsDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ClassesOfFinancialAssetsDomain" xlink:to="lab_ifrs-full_ClassesOfFinancialAssetsDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_InterestRateSwapsOfUSDollarDebtMember_019edf8d-718d-7ba2-9bd7-d7931fbd78c0_terseLabel_en-US" xlink:label="lab_bpy_InterestRateSwapsOfUSDollarDebtMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest rate swaps of US$ debt</link:label>
    <link:label id="lab_bpy_InterestRateSwapsOfUSDollarDebtMember_label_en-US" xlink:label="lab_bpy_InterestRateSwapsOfUSDollarDebtMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Rate Swaps Of US Dollar Debt [Member]</link:label>
    <link:label id="lab_bpy_InterestRateSwapsOfUSDollarDebtMember_documentation_en-US" xlink:label="lab_bpy_InterestRateSwapsOfUSDollarDebtMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Interest Rate Swaps Of US Dollar Debt</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_InterestRateSwapsOfUSDollarDebtMember" xlink:href="bpy-20260630.xsd#bpy_InterestRateSwapsOfUSDollarDebtMember"/>
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    <link:label id="lab_ifrs-full_DisclosureOfIntangibleAssetsExplanatory_019e3b4c-398b-7ee9-975f-b1610798795c_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfIntangibleAssetsExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">INTANGIBLE ASSETS</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfIntangibleAssetsExplanatory_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfIntangibleAssetsExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of intangible assets [text block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfIntangibleAssetsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfIntangibleAssetsExplanatory"/>
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    <link:label id="lab_ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillTable_019e3b4c-398b-7b40-b250-6c4b3595e74c_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of reconciliation of changes in intangible assets and goodwill [table]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillTable_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of reconciliation of changes in intangible assets and goodwill [table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillTable" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillTable"/>
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    <link:label id="lab_ifrs-full_Level3OfFairValueHierarchyMember_019e3b4c-3a5a-75a2-9679-faa186a08565_terseLabel_en-US" xlink:label="lab_ifrs-full_Level3OfFairValueHierarchyMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Level 3</link:label>
    <link:label id="lab_ifrs-full_Level3OfFairValueHierarchyMember_label_en-US" xlink:label="lab_ifrs-full_Level3OfFairValueHierarchyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Level 3 of fair value hierarchy [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_Level3OfFairValueHierarchyMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_Level3OfFairValueHierarchyMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_Level3OfFairValueHierarchyMember" xlink:to="lab_ifrs-full_Level3OfFairValueHierarchyMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_InterestExpenseOnLeaseLiabilities_019e3b4c-398b-74eb-8044-97c0b763b85f_terseLabel_en-US" xlink:label="lab_ifrs-full_InterestExpenseOnLeaseLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest expense on lease liabilities</link:label>
    <link:label id="lab_ifrs-full_InterestExpenseOnLeaseLiabilities_label_en-US" xlink:label="lab_ifrs-full_InterestExpenseOnLeaseLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest expense on lease liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_InterestExpenseOnLeaseLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_InterestExpenseOnLeaseLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_InterestExpenseOnLeaseLiabilities" xlink:to="lab_ifrs-full_InterestExpenseOnLeaseLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill_019e3b4c-3a5a-7457-947f-02160b354018_verboseLabel_en-US" xlink:label="lab_ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Acquisition through business combinations</link:label>
    <link:label id="lab_ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill_label_en-US" xlink:label="lab_ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Acquisitions through business combinations, intangible assets other than goodwill</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" xlink:to="lab_ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfAccountingJudgementsAndEstimatesExplanatory_019e3b4c-3ae9-7774-9fa2-3060dbac80f8_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfAccountingJudgementsAndEstimatesExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Critical judgements and estimates in applying accounting policies</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfAccountingJudgementsAndEstimatesExplanatory_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfAccountingJudgementsAndEstimatesExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of accounting judgements and estimates [text block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfAccountingJudgementsAndEstimatesExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfAccountingJudgementsAndEstimatesExplanatory"/>
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    <link:label id="lab_ifrs-full_GoodwillRecognisedAsOfAcquisitionDate_019f4188-c35a-760f-bc1e-5c1e633c8a72_verboseLabel_en-US" xlink:label="lab_ifrs-full_GoodwillRecognisedAsOfAcquisitionDate" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Goodwill</link:label>
    <link:label id="lab_ifrs-full_GoodwillRecognisedAsOfAcquisitionDate_label_en-US" xlink:label="lab_ifrs-full_GoodwillRecognisedAsOfAcquisitionDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Goodwill recognised as of acquisition date</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_GoodwillRecognisedAsOfAcquisitionDate" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_GoodwillRecognisedAsOfAcquisitionDate"/>
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    <link:label id="lab_bpy_USRetailMember_019e3b4c-3a5a-7480-8d31-965746fde813_terseLabel_en-US" xlink:label="lab_bpy_USRetailMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">U.S. Retail</link:label>
    <link:label id="lab_bpy_USRetailMember_label_en-US" xlink:label="lab_bpy_USRetailMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">U.S. Retail [Member]</link:label>
    <link:label id="lab_bpy_USRetailMember_documentation_en-US" xlink:label="lab_bpy_USRetailMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">U.S. Retail</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_USRetailMember" xlink:href="bpy-20260630.xsd#bpy_USRetailMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_USRetailMember" xlink:to="lab_bpy_USRetailMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DecreaseThroughClassifiedAsHeldForSaleInvestmentProperty_019edfd6-1e04-7ffc-9da1-ebcbe21ad50e_negatedLabel_en-US" xlink:label="lab_ifrs-full_DecreaseThroughClassifiedAsHeldForSaleInvestmentProperty" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Reclassification to assets held for sale and other changes</link:label>
    <link:label id="lab_ifrs-full_DecreaseThroughClassifiedAsHeldForSaleInvestmentProperty_label_en-US" xlink:label="lab_ifrs-full_DecreaseThroughClassifiedAsHeldForSaleInvestmentProperty" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Decrease through classified as held for sale, investment property</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DecreaseThroughClassifiedAsHeldForSaleInvestmentProperty" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DecreaseThroughClassifiedAsHeldForSaleInvestmentProperty"/>
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    <link:label id="lab_ifrs-full_UnobservableInputsAxis_019e3b4c-3ae9-762e-bed6-b58b6aef7b21_terseLabel_en-US" xlink:label="lab_ifrs-full_UnobservableInputsAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unobservable inputs [axis]</link:label>
    <link:label id="lab_ifrs-full_UnobservableInputsAxis_label_en-US" xlink:label="lab_ifrs-full_UnobservableInputsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unobservable inputs [axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_UnobservableInputsAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_UnobservableInputsAxis"/>
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    <link:label id="lab_ifrs-full_DisclosureOfClassesOfShareCapitalTable_019e3b4c-3ae9-7811-830d-5a68263e991d_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfClassesOfShareCapitalTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of classes of share capital [table]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfClassesOfShareCapitalTable_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfClassesOfShareCapitalTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of classes of share capital [table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfClassesOfShareCapitalTable" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfClassesOfShareCapitalTable"/>
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    <link:label id="lab_bpy_OtherNoncontrollingInterests1_019e3b4c-3ae9-7182-be63-d568f6fda7b6_terseLabel_en-US" xlink:label="lab_bpy_OtherNoncontrollingInterests1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interests of others in operating subsidiaries and properties</link:label>
    <link:label id="lab_bpy_OtherNoncontrollingInterests1_019e3b4c-3ae9-7174-97cc-c84a0d7aec47_totalLabel_en-US" xlink:label="lab_bpy_OtherNoncontrollingInterests1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total interests of others in operating subsidiaries and properties</link:label>
    <link:label id="lab_bpy_OtherNoncontrollingInterests1_019e3b4c-3ae9-7364-b36e-bcfb74b38534_verboseLabel_en-US" xlink:label="lab_bpy_OtherNoncontrollingInterests1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Non-controlling interests: Interests of others in operating subsidiaries and properties</link:label>
    <link:label id="lab_bpy_OtherNoncontrollingInterests1_label_en-US" xlink:label="lab_bpy_OtherNoncontrollingInterests1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Noncontrolling Interests1</link:label>
    <link:label id="lab_bpy_OtherNoncontrollingInterests1_documentation_en-US" xlink:label="lab_bpy_OtherNoncontrollingInterests1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other Noncontrolling Interests1</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_OtherNoncontrollingInterests1" xlink:href="bpy-20260630.xsd#bpy_OtherNoncontrollingInterests1"/>
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    <link:label id="lab_ifrs-full_SegmentConsolidationItemsDomain_019e3b4c-3a5a-7561-8a39-d158b8f160dd_terseLabel_en-US" xlink:label="lab_ifrs-full_SegmentConsolidationItemsDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Segment consolidation items [domain]</link:label>
    <link:label id="lab_ifrs-full_SegmentConsolidationItemsDomain_label_en-US" xlink:label="lab_ifrs-full_SegmentConsolidationItemsDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Segment consolidation items [domain]</link:label>
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    <link:label id="lab_ifrs-full_LoansAndAdvancesAtAmortisedCost_019e3b4c-3ae9-7c78-8e04-2dcde67dedaf_terseLabel_en-US" xlink:label="lab_ifrs-full_LoansAndAdvancesAtAmortisedCost" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loans and notes receivable with other affiliates</link:label>
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    <link:label id="lab_bpy_CapitalSecuritiesCurrent_documentation_en-US" xlink:label="lab_bpy_CapitalSecuritiesCurrent" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Capital Securities, Current</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_NoncurrentLiabilitiesAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_NoncurrentLiabilitiesAbstract"/>
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    <link:label id="lab_dei_EntityDomain_label_en-US" xlink:label="lab_dei_EntityDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity [Domain]</link:label>
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    <link:label id="lab_bpy_OtherNoncurrentFinancialAssetsMember_documentation_en-US" xlink:label="lab_bpy_OtherNoncurrentFinancialAssetsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other Noncurrent Financial Assets [Member]</link:label>
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    <link:label id="lab_ifrs-full_PropertyManagementExpense_019e3b4c-398b-7d7a-935c-bafb1ad7f6a8_terseLabel_en-US" xlink:label="lab_ifrs-full_PropertyManagementExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Management fees</link:label>
    <link:label id="lab_ifrs-full_PropertyManagementExpense_label_en-US" xlink:label="lab_ifrs-full_PropertyManagementExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property management expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_PropertyManagementExpense" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_PropertyManagementExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_PropertyManagementExpense" xlink:to="lab_ifrs-full_PropertyManagementExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_LPInvestmentsOfficeMember_019e3b4c-3a5a-77a7-96df-f854273fb5f3_verboseLabel_en-US" xlink:label="lab_bpy_LPInvestmentsOfficeMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">LP Investments</link:label>
    <link:label id="lab_bpy_LPInvestmentsOfficeMember_label_en-US" xlink:label="lab_bpy_LPInvestmentsOfficeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">LP Investments - Office [Member]</link:label>
    <link:label id="lab_bpy_LPInvestmentsOfficeMember_documentation_en-US" xlink:label="lab_bpy_LPInvestmentsOfficeMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">LP Investments - Office [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_LPInvestmentsOfficeMember" xlink:href="bpy-20260630.xsd#bpy_LPInvestmentsOfficeMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_LPInvestmentsOfficeMember" xlink:to="lab_bpy_LPInvestmentsOfficeMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_LeaseholdImprovementsMember_019e3b4c-3a5a-7ddb-836e-3593c7640c8b_terseLabel_en-US" xlink:label="lab_ifrs-full_LeaseholdImprovementsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Land improvements</link:label>
    <link:label id="lab_ifrs-full_LeaseholdImprovementsMember_label_en-US" xlink:label="lab_ifrs-full_LeaseholdImprovementsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Leasehold improvements [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_LeaseholdImprovementsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_LeaseholdImprovementsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_LeaseholdImprovementsMember" xlink:to="lab_ifrs-full_LeaseholdImprovementsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations_019e3b4c-3ae9-74f7-999a-3febec862c82_terseLabel_en-US" xlink:label="lab_ifrs-full_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Future accounting policies</link:label>
    <link:label id="lab_ifrs-full_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations_label_en-US" xlink:label="lab_ifrs-full_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of expected impact of initial application of new standards or interpretations [text block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations" xlink:to="lab_ifrs-full_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_InvestmentAccountedForUsingEquityMethodDisposalAndReturnOfCapitalDistributions_019e3b4c-3a5a-7dcd-bf98-ac4d6f62bc7e_negatedTerseLabel_en-US" xlink:label="lab_bpy_InvestmentAccountedForUsingEquityMethodDisposalAndReturnOfCapitalDistributions" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Disposals and return of capital distributions</link:label>
    <link:label id="lab_bpy_InvestmentAccountedForUsingEquityMethodDisposalAndReturnOfCapitalDistributions_label_en-US" xlink:label="lab_bpy_InvestmentAccountedForUsingEquityMethodDisposalAndReturnOfCapitalDistributions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment Accounted For Using Equity Method, Disposal And Return Of Capital Distributions</link:label>
    <link:label id="lab_bpy_InvestmentAccountedForUsingEquityMethodDisposalAndReturnOfCapitalDistributions_documentation_en-US" xlink:label="lab_bpy_InvestmentAccountedForUsingEquityMethodDisposalAndReturnOfCapitalDistributions" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Investment Accounted For Using Equity Method, Disposal And Return Of Capital Distributions</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_InvestmentAccountedForUsingEquityMethodDisposalAndReturnOfCapitalDistributions" xlink:href="bpy-20260630.xsd#bpy_InvestmentAccountedForUsingEquityMethodDisposalAndReturnOfCapitalDistributions"/>
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    <link:label id="lab_bpy_CapitalSecuritiesCapitalSecuritiesRedeemed_label_en-US" xlink:label="lab_bpy_CapitalSecuritiesCapitalSecuritiesRedeemed" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Capital Securities, Capital Securities Redeemed</link:label>
    <link:label id="lab_bpy_CapitalSecuritiesCapitalSecuritiesRedeemed_documentation_en-US" xlink:label="lab_bpy_CapitalSecuritiesCapitalSecuritiesRedeemed" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Capital Securities, Capital Securities Redeemed</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_CapitalSecuritiesCapitalSecuritiesRedeemed" xlink:href="bpy-20260630.xsd#bpy_CapitalSecuritiesCapitalSecuritiesRedeemed"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_CapitalSecuritiesCapitalSecuritiesRedeemed" xlink:to="lab_bpy_CapitalSecuritiesCapitalSecuritiesRedeemed" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfInvestmentPropertyLineItems_019e3b4c-3ae9-75b9-84ef-c50e212e0017_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfInvestmentPropertyLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about investment property [line items]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfInvestmentPropertyLineItems_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfInvestmentPropertyLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about investment property [line items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfInvestmentPropertyLineItems" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfInvestmentPropertyLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfInvestmentPropertyLineItems" xlink:to="lab_ifrs-full_DisclosureOfInvestmentPropertyLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_DeferredFinancingCostsNettingMember_019e3b4c-398b-7d5f-b8ec-082b1e9734ef_terseLabel_en-US" xlink:label="lab_bpy_DeferredFinancingCostsNettingMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred financing costs</link:label>
    <link:label id="lab_bpy_DeferredFinancingCostsNettingMember_label_en-US" xlink:label="lab_bpy_DeferredFinancingCostsNettingMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Financing Costs Netting [Member]</link:label>
    <link:label id="lab_bpy_DeferredFinancingCostsNettingMember_documentation_en-US" xlink:label="lab_bpy_DeferredFinancingCostsNettingMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Deferred Financing Costs Netting</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_DeferredFinancingCostsNettingMember" xlink:href="bpy-20260630.xsd#bpy_DeferredFinancingCostsNettingMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_DeferredFinancingCostsNettingMember" xlink:to="lab_bpy_DeferredFinancingCostsNettingMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_ManagerReorganizationMember_019e3b4c-398b-76bf-9868-7f6a35c6fe13_terseLabel_en-US" xlink:label="lab_bpy_ManagerReorganizationMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Manager Reorganization</link:label>
    <link:label id="lab_bpy_ManagerReorganizationMember_label_en-US" xlink:label="lab_bpy_ManagerReorganizationMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Manager Reorganization [Member]</link:label>
    <link:label id="lab_bpy_ManagerReorganizationMember_documentation_en-US" xlink:label="lab_bpy_ManagerReorganizationMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Manager Reorganization</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_ManagerReorganizationMember" xlink:href="bpy-20260630.xsd#bpy_ManagerReorganizationMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_ManagerReorganizationMember" xlink:to="lab_bpy_ManagerReorganizationMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_TerminalCapitalizationRateMember_019e3b4c-3a5a-716c-ac60-957c8cc553fb_terseLabel_en-US" xlink:label="lab_bpy_TerminalCapitalizationRateMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">TCR</link:label>
    <link:label id="lab_bpy_TerminalCapitalizationRateMember_label_en-US" xlink:label="lab_bpy_TerminalCapitalizationRateMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Terminal Capitalization Rate [Member]</link:label>
    <link:label id="lab_bpy_TerminalCapitalizationRateMember_documentation_en-US" xlink:label="lab_bpy_TerminalCapitalizationRateMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Terminal Capitalization Rate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_TerminalCapitalizationRateMember" xlink:href="bpy-20260630.xsd#bpy_TerminalCapitalizationRateMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_TerminalCapitalizationRateMember" xlink:to="lab_bpy_TerminalCapitalizationRateMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_EarningsBeforeFairValueGains_019e3b4c-3a5a-7f1d-a64b-dd0364c215cd_totalLabel_en-US" xlink:label="lab_bpy_EarningsBeforeFairValueGains" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Income before fair value gains, net</link:label>
    <link:label id="lab_bpy_EarningsBeforeFairValueGains_label_en-US" xlink:label="lab_bpy_EarningsBeforeFairValueGains" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Earnings Before Fair Value Gains</link:label>
    <link:label id="lab_bpy_EarningsBeforeFairValueGains_documentation_en-US" xlink:label="lab_bpy_EarningsBeforeFairValueGains" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Earnings Before Fair Value Gains</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_EarningsBeforeFairValueGains" xlink:href="bpy-20260630.xsd#bpy_EarningsBeforeFairValueGains"/>
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    <link:label id="lab_bpy_TrademarkAssetsAndManagementContractsMember_019edb97-1e89-71bc-823e-6e1ea0aca63d_terseLabel_en-US" xlink:label="lab_bpy_TrademarkAssetsAndManagementContractsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Trademark Assets and Management Contracts</link:label>
    <link:label id="lab_bpy_TrademarkAssetsAndManagementContractsMember_label_en-US" xlink:label="lab_bpy_TrademarkAssetsAndManagementContractsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trademark Assets and Management Contracts [Member]</link:label>
    <link:label id="lab_bpy_TrademarkAssetsAndManagementContractsMember_documentation_en-US" xlink:label="lab_bpy_TrademarkAssetsAndManagementContractsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Trademark Assets and Management Contracts</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_TrademarkAssetsAndManagementContractsMember" xlink:href="bpy-20260630.xsd#bpy_TrademarkAssetsAndManagementContractsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_TrademarkAssetsAndManagementContractsMember" xlink:to="lab_bpy_TrademarkAssetsAndManagementContractsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_RelatedPartyDistributions_019e3b4c-3ae9-7657-acbb-e18b703b834f_terseLabel_en-US" xlink:label="lab_bpy_RelatedPartyDistributions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Distributions on Brookfield Corporation&#8217;s interest in Canholdco</link:label>
    <link:label id="lab_bpy_RelatedPartyDistributions_label_en-US" xlink:label="lab_bpy_RelatedPartyDistributions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party Distributions</link:label>
    <link:label id="lab_bpy_RelatedPartyDistributions_documentation_en-US" xlink:label="lab_bpy_RelatedPartyDistributions" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Related Party Distributions</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_RelatedPartyDistributions" xlink:href="bpy-20260630.xsd#bpy_RelatedPartyDistributions"/>
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    <link:label id="lab_ifrs-full_DerivativeFinancialLiabilities_019e3b4c-398b-7b39-ac4b-b25e0d1ad321_terseLabel_en-US" xlink:label="lab_ifrs-full_DerivativeFinancialLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative liabilities</link:label>
    <link:label id="lab_ifrs-full_DerivativeFinancialLiabilities_label_en-US" xlink:label="lab_ifrs-full_DerivativeFinancialLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative financial liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DerivativeFinancialLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DerivativeFinancialLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DerivativeFinancialLiabilities" xlink:to="lab_ifrs-full_DerivativeFinancialLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CurrentTradeReceivables_019e3b4c-3a5a-7986-9512-273290b3d351_terseLabel_en-US" xlink:label="lab_ifrs-full_CurrentTradeReceivables" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accounts receivable &#8212; net of expected credit loss of $39&#160;million (December&#160;31, 2025 - $51&#160;million)</link:label>
    <link:label id="lab_ifrs-full_CurrentTradeReceivables_label_en-US" xlink:label="lab_ifrs-full_CurrentTradeReceivables" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current trade receivables</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CurrentTradeReceivables" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_CurrentTradeReceivables"/>
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    <link:label id="lab_ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale_019e3b4c-3a5a-7b36-9d8c-42dd4ecefb07_terseLabel_en-US" xlink:label="lab_ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Liabilities associated with assets held for sale</link:label>
    <link:label id="lab_ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale_label_en-US" xlink:label="lab_ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities included in disposal groups classified as held for sale</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale" xlink:to="lab_ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_GrossCarryingAmountMember_019e3b4c-398b-7205-9775-2a246fef8af3_terseLabel_en-US" xlink:label="lab_ifrs-full_GrossCarryingAmountMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cost:</link:label>
    <link:label id="lab_ifrs-full_GrossCarryingAmountMember_019e3b4c-398b-7389-81fb-eee00b91335f_verboseLabel_en-US" xlink:label="lab_ifrs-full_GrossCarryingAmountMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Cost</link:label>
    <link:label id="lab_ifrs-full_GrossCarryingAmountMember_label_en-US" xlink:label="lab_ifrs-full_GrossCarryingAmountMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gross carrying amount [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_GrossCarryingAmountMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_GrossCarryingAmountMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_GrossCarryingAmountMember" xlink:to="lab_ifrs-full_GrossCarryingAmountMember" xlink:type="arc" order="1"/>
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    <link:label id="lab_ifrs-full_TradeAndOtherCurrentPayables_019e3b4c-398b-7b5f-8f41-0eee655529f7_totalLabel_en-US" xlink:label="lab_ifrs-full_TradeAndOtherCurrentPayables" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total accounts payable and other liabilities</link:label>
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    <link:label id="lab_bpy_OtherSubsidiariesMember_019e3b4c-3a5a-7d29-b6a1-70258a0ae4c1_terseLabel_en-US" xlink:label="lab_bpy_OtherSubsidiariesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other Subsidiaries</link:label>
    <link:label id="lab_bpy_OtherSubsidiariesMember_label_en-US" xlink:label="lab_bpy_OtherSubsidiariesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Subsidiaries [Member]</link:label>
    <link:label id="lab_bpy_OtherSubsidiariesMember_documentation_en-US" xlink:label="lab_bpy_OtherSubsidiariesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other Subsidiaries</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_OtherSubsidiariesMember" xlink:href="bpy-20260630.xsd#bpy_OtherSubsidiariesMember"/>
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    <link:label id="lab_bpy_RestrictedCashMember_019e3b4c-3ae9-7a80-9f0b-2dfe83d9569a_terseLabel_en-US" xlink:label="lab_bpy_RestrictedCashMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Restricted cash</link:label>
    <link:label id="lab_bpy_RestrictedCashMember_label_en-US" xlink:label="lab_bpy_RestrictedCashMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Restricted Cash [Member]</link:label>
    <link:label id="lab_bpy_RestrictedCashMember_documentation_en-US" xlink:label="lab_bpy_RestrictedCashMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Restricted Cash [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_RestrictedCashMember" xlink:href="bpy-20260630.xsd#bpy_RestrictedCashMember"/>
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    <link:label id="lab_ifrs-full_DisclosureOfAnalysisOfOtherComprehensiveIncomeByItemAbstract_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfAnalysisOfOtherComprehensiveIncomeByItemAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of analysis of other comprehensive income by item [abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfAnalysisOfOtherComprehensiveIncomeByItemAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfAnalysisOfOtherComprehensiveIncomeByItemAbstract"/>
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    <link:label id="lab_ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationNetOfTax_019e3b4c-3ae9-77ac-86e8-75870da35593_terseLabel_en-US" xlink:label="lab_ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationNetOfTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net unrealized foreign currency translation (losses) gains in respect of foreign operations</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationNetOfTax" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationNetOfTax"/>
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    <link:label id="lab_ifrs-full_ProceedsFromIssuingShares_019e3b4c-398b-7abd-869d-876884b3bf25_terseLabel_en-US" xlink:label="lab_ifrs-full_ProceedsFromIssuingShares" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Issuances to limited partnership unitholders</link:label>
    <link:label id="lab_ifrs-full_ProceedsFromIssuingShares_label_en-US" xlink:label="lab_ifrs-full_ProceedsFromIssuingShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from issuing shares</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ProceedsFromIssuingShares" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ProceedsFromIssuingShares"/>
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    <link:label id="lab_bpy_SpecialLPUnitsMember_019e3b4c-398b-7a68-b5b1-543cb1be10aa_terseLabel_en-US" xlink:label="lab_bpy_SpecialLPUnitsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Special LP Units</link:label>
    <link:label id="lab_bpy_SpecialLPUnitsMember_label_en-US" xlink:label="lab_bpy_SpecialLPUnitsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Special LP Units [Member]</link:label>
    <link:label id="lab_bpy_SpecialLPUnitsMember_documentation_en-US" xlink:label="lab_bpy_SpecialLPUnitsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Special LP Units [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_SpecialLPUnitsMember" xlink:href="bpy-20260630.xsd#bpy_SpecialLPUnitsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_SpecialLPUnitsMember" xlink:to="lab_bpy_SpecialLPUnitsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_AssetDisposals_019e3b4c-3ae9-7a04-8543-5563d58594b6_negatedTerseLabel_en-US" xlink:label="lab_bpy_AssetDisposals" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Disposals</link:label>
    <link:label id="lab_bpy_AssetDisposals_label_en-US" xlink:label="lab_bpy_AssetDisposals" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Asset Disposals</link:label>
    <link:label id="lab_bpy_AssetDisposals_documentation_en-US" xlink:label="lab_bpy_AssetDisposals" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Asset Disposals</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_AssetDisposals" xlink:href="bpy-20260630.xsd#bpy_AssetDisposals"/>
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    <link:label id="lab_bpy_BSREPIVMember_019e3b4c-398c-7a92-b5ee-f5a4deb5f04a_terseLabel_en-US" xlink:label="lab_bpy_BSREPIVMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">BSREP IV</link:label>
    <link:label id="lab_bpy_BSREPIVMember_label_en-US" xlink:label="lab_bpy_BSREPIVMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">BSREP IV [Member]</link:label>
    <link:label id="lab_bpy_BSREPIVMember_documentation_en-US" xlink:label="lab_bpy_BSREPIVMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">BSREP IV</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_BSREPIVMember" xlink:href="bpy-20260630.xsd#bpy_BSREPIVMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_BSREPIVMember" xlink:to="lab_bpy_BSREPIVMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate_019e3b4c-3a5a-7710-b438-9be26e69f434_terseLabel_en-US" xlink:label="lab_ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Intangible assets</link:label>
    <link:label id="lab_ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate_label_en-US" xlink:label="lab_ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Identifiable intangible assets recognised as of acquisition date</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate"/>
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    <link:label id="lab_ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_019e3b4c-3ae9-7f3a-9975-f12fff9dea0a_terseLabel_en-US" xlink:label="lab_ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">FVTPL</link:label>
    <link:label id="lab_ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_label_en-US" xlink:label="lab_ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial liabilities at fair value through profit or loss, category [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember"/>
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    <link:label id="lab_ifrs-full_LongtermBorrowings_019e3b4c-3a5a-78b7-a9ab-f29126af68fd_verboseLabel_en-US" xlink:label="lab_ifrs-full_LongtermBorrowings" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Non-current</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_LongtermBorrowings" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_LongtermBorrowings"/>
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    <link:label id="lab_ifrs-full_DisclosureOfFinancialAssetsLineItems_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfFinancialAssetsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of financial assets [line items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfFinancialAssetsLineItems" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfFinancialAssetsLineItems"/>
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    <link:loc xlink:type="locator" xlink:label="loc_bpy_InvestmentAccountedForUsingEquityMethodReclassificationToAssetsHeldForSale" xlink:href="bpy-20260630.xsd#bpy_InvestmentAccountedForUsingEquityMethodReclassificationToAssetsHeldForSale"/>
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    <link:label id="lab_ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred_label_en-US" xlink:label="lab_ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Consideration transferred, acquisition-date fair value</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_bpy_RentalIncomeFromInvestmentPropertyBaseRentAndRecoveryOfOperatingExpenses" xlink:href="bpy-20260630.xsd#bpy_RentalIncomeFromInvestmentPropertyBaseRentAndRecoveryOfOperatingExpenses"/>
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    <link:label id="lab_ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRevaluation_019edb0e-7b17-7b00-a8ca-46d6552be600_terseLabel_en-US" xlink:label="lab_ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRevaluation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Gains (losses) on revaluation recognised in other comprehensive income, before tax</link:label>
    <link:label id="lab_ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRevaluation_label_en-US" xlink:label="lab_ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRevaluation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other comprehensive income, before tax, gains (losses) on revaluation of property, plant and equipment, right-of-use assets and intangible assets</link:label>
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    <link:label id="lab_ifrs-full_ProportionOfOwnershipInterestInSubsidiary_019e3b4c-398b-7ced-b1f5-8364121ec79c_terseLabel_en-US" xlink:label="lab_ifrs-full_ProportionOfOwnershipInterestInSubsidiary" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proportion of ownership interest in subsidiary</link:label>
    <link:label id="lab_ifrs-full_ProportionOfOwnershipInterestInSubsidiary_label_en-US" xlink:label="lab_ifrs-full_ProportionOfOwnershipInterestInSubsidiary" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proportion of ownership interest in subsidiary</link:label>
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    <link:label id="lab_bpy_DisclosureOfSignificantAccountingPoliciesAbstract_documentation_en-US" xlink:label="lab_bpy_DisclosureOfSignificantAccountingPoliciesAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure of significant accounting policies [Abstract]</link:label>
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    <link:label id="lab_bpy_BrookfieldStrategicRealEstatePartnersFundIMember_019e3b4c-3ae9-7f0a-a56d-6b05c63f278c_terseLabel_en-US" xlink:label="lab_bpy_BrookfieldStrategicRealEstatePartnersFundIMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Brookfield Real Estate Partners Fund</link:label>
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    <link:label id="lab_bpy_BrookfieldStrategicRealEstatePartnersFundIMember_documentation_en-US" xlink:label="lab_bpy_BrookfieldStrategicRealEstatePartnersFundIMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Brookfield Strategic Real Estate Partners Fund I [Member]</link:label>
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    <link:label id="lab_bpy_NumberOfProperties_label_en-US" xlink:label="lab_bpy_NumberOfProperties" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number of Properties</link:label>
    <link:label id="lab_bpy_NumberOfProperties_documentation_en-US" xlink:label="lab_bpy_NumberOfProperties" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number of Properties</link:label>
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    <link:label id="lab_bpy_PreferredStockLiquidationPreferencePerShare_019e3b4c-3ae9-718e-a7ed-7060f5bdbc2e_terseLabel_en-US" xlink:label="lab_bpy_PreferredStockLiquidationPreferencePerShare" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Liquidation preference (in dollars per share)</link:label>
    <link:label id="lab_bpy_PreferredStockLiquidationPreferencePerShare_label_en-US" xlink:label="lab_bpy_PreferredStockLiquidationPreferencePerShare" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Stock, Liquidation Preference Per Share</link:label>
    <link:label id="lab_bpy_PreferredStockLiquidationPreferencePerShare_documentation_en-US" xlink:label="lab_bpy_PreferredStockLiquidationPreferencePerShare" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Preferred Stock, Liquidation Preference Per Share</link:label>
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    <link:label id="lab_dei_EntityRegistrantName_019e3b4c-3a5a-7eb4-8993-a0f1732c2b03_terseLabel_en-US" xlink:label="lab_dei_EntityRegistrantName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Registrant Name</link:label>
    <link:label id="lab_dei_EntityRegistrantName_label_en-US" xlink:label="lab_dei_EntityRegistrantName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Registrant Name</link:label>
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    <link:label id="lab_ifrs-full_MeasurementAxis_019e3b4c-398b-7754-aefb-6654047c07fe_terseLabel_en-US" xlink:label="lab_ifrs-full_MeasurementAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Measurement [axis]</link:label>
    <link:label id="lab_ifrs-full_MeasurementAxis_label_en-US" xlink:label="lab_ifrs-full_MeasurementAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Measurement [axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_MeasurementAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_MeasurementAxis"/>
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    <link:label id="lab_bpy_SaleOfInvestmentPropertyMember_019ff64e-67ee-7b62-b344-ba6b77bc9aa0_terseLabel_en-US" xlink:label="lab_bpy_SaleOfInvestmentPropertyMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Sale of investment property</link:label>
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    <link:label id="lab_bpy_SaleOfInvestmentPropertyMember_documentation_en-US" xlink:label="lab_bpy_SaleOfInvestmentPropertyMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Sale of Investment Property</link:label>
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    <link:label id="lab_bpy_ComprehensiveIncomeLossPortionAttributableToNoncontrollingInterestLimitedPartnershipsRedeemable_019e3b4c-3ae9-7ebc-bd8e-c341c98b87c4_totalLabel_en-US" xlink:label="lab_bpy_ComprehensiveIncomeLossPortionAttributableToNoncontrollingInterestLimitedPartnershipsRedeemable" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Comprehensive (loss) income attributable to redeemable/exchangeable and special limited partnership units</link:label>
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    <link:label id="lab_ifrs-full_FloatingInterestRateMember_019e3b4c-3a5a-738e-b76b-340ab68d465e_verboseLabel_en-US" xlink:label="lab_ifrs-full_FloatingInterestRateMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Variable rate</link:label>
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    <link:label id="lab_bpy_BrookfieldStrategicRealEstatePartnersFundIVMember_documentation_en-US" xlink:label="lab_bpy_BrookfieldStrategicRealEstatePartnersFundIVMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Brookfield Strategic Real Estate Partners Fund IV</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_BrookfieldStrategicRealEstatePartnersFundIVMember" xlink:to="lab_bpy_BrookfieldStrategicRealEstatePartnersFundIVMember" xlink:type="arc" order="1"/>
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    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_HedgingInstrumentsAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_HedgingInstrumentsAxis"/>
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    <link:label id="lab_ifrs-full_AssetsAndLiabilitiesClassifiedAsHeldForSaleMember_label_en-US" xlink:label="lab_ifrs-full_AssetsAndLiabilitiesClassifiedAsHeldForSaleMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets and liabilities classified as held for sale [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AssetsAndLiabilitiesClassifiedAsHeldForSaleMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_AssetsAndLiabilitiesClassifiedAsHeldForSaleMember"/>
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    <link:label id="lab_bpy_InterestRateCapsOfUSDollarSOFRDebtMember_019e3b4c-3a5a-789c-9ec9-1a67304e59db_terseLabel_en-US" xlink:label="lab_bpy_InterestRateCapsOfUSDollarSOFRDebtMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest rate caps of US$ SOFR debt</link:label>
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    <link:label id="lab_bpy_InterestRateCapsOfUSDollarSOFRDebtMember_documentation_en-US" xlink:label="lab_bpy_InterestRateCapsOfUSDollarSOFRDebtMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Interest Rate Caps Of US Dollar SOFR Debt</link:label>
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    <link:label id="lab_ifrs-full_FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember_019e3b4c-398b-7bc0-b7b2-77974b76d10b_terseLabel_en-US" xlink:label="lab_ifrs-full_FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">FVTOCI</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember"/>
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    <link:label id="lab_bpy_UnitedStatesRetailCompanyMember_documentation_en-US" xlink:label="lab_bpy_UnitedStatesRetailCompanyMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">United States Retail Company</link:label>
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    <link:label id="lab_bpy_InterestsInOtherEntitiesAbstract_label_en-US" xlink:label="lab_bpy_InterestsInOtherEntitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interests In Other Entities [Abstract]</link:label>
    <link:label id="lab_bpy_InterestsInOtherEntitiesAbstract_documentation_en-US" xlink:label="lab_bpy_InterestsInOtherEntitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Interests In Other Entities [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_InterestsInOtherEntitiesAbstract" xlink:href="bpy-20260630.xsd#bpy_InterestsInOtherEntitiesAbstract"/>
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    <link:label id="lab_ifrs-full_OtherNoncurrentReceivables_019e3b4c-3a5a-77d3-9e29-c6bd6901d46f_terseLabel_en-US" xlink:label="lab_ifrs-full_OtherNoncurrentReceivables" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loans and notes receivable</link:label>
    <link:label id="lab_ifrs-full_OtherNoncurrentReceivables_label_en-US" xlink:label="lab_ifrs-full_OtherNoncurrentReceivables" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other non-current receivables</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherNoncurrentReceivables" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_OtherNoncurrentReceivables"/>
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    <link:label id="lab_bpy_PreferredUnitsAverageDividendYield_019e3b4c-3ae9-72ff-8f41-2ae4e8c71c5e_terseLabel_en-US" xlink:label="lab_bpy_PreferredUnitsAverageDividendYield" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Average dividend yield</link:label>
    <link:label id="lab_bpy_PreferredUnitsAverageDividendYield_label_en-US" xlink:label="lab_bpy_PreferredUnitsAverageDividendYield" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Units, Average Dividend Yield</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_bpy_PreferredUnitsAverageDividendYield" xlink:href="bpy-20260630.xsd#bpy_PreferredUnitsAverageDividendYield"/>
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    <link:label id="lab_bpy_OperatingPartnershipMember_019e3b4c-3a5a-70bc-9945-c8ca0e10f67f_terseLabel_en-US" xlink:label="lab_bpy_OperatingPartnershipMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Operating Partnership</link:label>
    <link:label id="lab_bpy_OperatingPartnershipMember_label_en-US" xlink:label="lab_bpy_OperatingPartnershipMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Partnership [Member]</link:label>
    <link:label id="lab_bpy_OperatingPartnershipMember_documentation_en-US" xlink:label="lab_bpy_OperatingPartnershipMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Operating Partnership [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_OperatingPartnershipMember" xlink:href="bpy-20260630.xsd#bpy_OperatingPartnershipMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_OperatingPartnershipMember" xlink:to="lab_bpy_OperatingPartnershipMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ParentMember_019e3b4c-3a5a-765a-a23e-7df2bd2eb785_terseLabel_en-US" xlink:label="lab_ifrs-full_ParentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Brookfield Asset Management</link:label>
    <link:label id="lab_ifrs-full_ParentMember_label_en-US" xlink:label="lab_ifrs-full_ParentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Parent [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ParentMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ParentMember"/>
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    <link:label id="lab_bpy_LoansAndNotesPayableMember_documentation_en-US" xlink:label="lab_bpy_LoansAndNotesPayableMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Loans And Notes Payable</link:label>
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    <link:label id="lab_bpy_OtherIncreaseDecreaseFairValueMeasurementAssets_019e3b4c-398b-7e32-a68c-5e2ac86bb0d8_terseLabel_en-US" xlink:label="lab_bpy_OtherIncreaseDecreaseFairValueMeasurementAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other</link:label>
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    <link:label id="lab_bpy_OtherIncreaseDecreaseFairValueMeasurementAssets_documentation_en-US" xlink:label="lab_bpy_OtherIncreaseDecreaseFairValueMeasurementAssets" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other Increase (Decrease), Fair Value Measurement, Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_OtherIncreaseDecreaseFairValueMeasurementAssets" xlink:href="bpy-20260630.xsd#bpy_OtherIncreaseDecreaseFairValueMeasurementAssets"/>
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    <link:label id="lab_ifrs-full_ProfitLossOfAcquiree_019e3b4c-398b-738e-879d-5094bd3eaed4_terseLabel_en-US" xlink:label="lab_ifrs-full_ProfitLossOfAcquiree" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net (loss) income</link:label>
    <link:label id="lab_ifrs-full_ProfitLossOfAcquiree_label_en-US" xlink:label="lab_ifrs-full_ProfitLossOfAcquiree" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Profit (loss) of acquiree since acquisition date</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ProfitLossOfAcquiree" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ProfitLossOfAcquiree"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ProfitLossOfAcquiree" xlink:to="lab_ifrs-full_ProfitLossOfAcquiree" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_Liabilities_019e3b4c-3ae9-7da3-a75a-1f5fa671e573_totalLabel_en-US" xlink:label="lab_ifrs-full_Liabilities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total liabilities</link:label>
    <link:label id="lab_ifrs-full_Liabilities_019e3b4c-3ae9-741c-82ff-61d72693ea0c_terseLabel_en-US" xlink:label="lab_ifrs-full_Liabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total liabilities</link:label>
    <link:label id="lab_ifrs-full_Liabilities_label_en-US" xlink:label="lab_ifrs-full_Liabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_Liabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_Liabilities"/>
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    <link:label id="lab_currency_AUD_019e3b4c-398b-79db-9d6a-36190cfd5212_terseLabel_en-US" xlink:label="lab_currency_AUD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Australian Dollars</link:label>
    <link:label id="lab_currency_AUD_label_en-US" xlink:label="lab_currency_AUD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Australia, Dollars</link:label>
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    <link:label id="lab_bpy_RedeemableNoncontrollingInterestEquityCarryingAmount1_019e3b4c-3a5a-72bf-8bce-74cafb17ce6f_terseLabel_en-US" xlink:label="lab_bpy_RedeemableNoncontrollingInterestEquityCarryingAmount1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Redeemable/exchangeable and special limited partnership units</link:label>
    <link:label id="lab_bpy_RedeemableNoncontrollingInterestEquityCarryingAmount1_019e3b4c-3a5a-7484-a602-b65004e415be_verboseLabel_en-US" xlink:label="lab_bpy_RedeemableNoncontrollingInterestEquityCarryingAmount1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">REUs and Special LP Units</link:label>
    <link:label id="lab_bpy_RedeemableNoncontrollingInterestEquityCarryingAmount1_label_en-US" xlink:label="lab_bpy_RedeemableNoncontrollingInterestEquityCarryingAmount1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Redeemable Noncontrolling Interest, Equity, Carrying Amount1</link:label>
    <link:label id="lab_bpy_RedeemableNoncontrollingInterestEquityCarryingAmount1_documentation_en-US" xlink:label="lab_bpy_RedeemableNoncontrollingInterestEquityCarryingAmount1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Redeemable Noncontrolling Interest, Equity, Carrying Amount1</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_RedeemableNoncontrollingInterestEquityCarryingAmount1" xlink:href="bpy-20260630.xsd#bpy_RedeemableNoncontrollingInterestEquityCarryingAmount1"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_RedeemableNoncontrollingInterestEquityCarryingAmount1" xlink:to="lab_bpy_RedeemableNoncontrollingInterestEquityCarryingAmount1" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_ScheduleOfReconciliationOfCashFlowsFromFinancingActivitiesFromCapitalSecuritiesTableTextBlock_019e3b4c-3a5a-7659-bdb2-5f11af0cd9df_terseLabel_en-US" xlink:label="lab_bpy_ScheduleOfReconciliationOfCashFlowsFromFinancingActivitiesFromCapitalSecuritiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Cash Flows from Financing Activities from Capital Securities</link:label>
    <link:label id="lab_bpy_ScheduleOfReconciliationOfCashFlowsFromFinancingActivitiesFromCapitalSecuritiesTableTextBlock_label_en-US" xlink:label="lab_bpy_ScheduleOfReconciliationOfCashFlowsFromFinancingActivitiesFromCapitalSecuritiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule Of Reconciliation Of Cash Flows From Financing Activities From Capital Securities [Table Text Block]</link:label>
    <link:label id="lab_bpy_ScheduleOfReconciliationOfCashFlowsFromFinancingActivitiesFromCapitalSecuritiesTableTextBlock_documentation_en-US" xlink:label="lab_bpy_ScheduleOfReconciliationOfCashFlowsFromFinancingActivitiesFromCapitalSecuritiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Schedule Of Reconciliation Of Cash Flows From Financing Activities From Capital Securities [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_ScheduleOfReconciliationOfCashFlowsFromFinancingActivitiesFromCapitalSecuritiesTableTextBlock" xlink:href="bpy-20260630.xsd#bpy_ScheduleOfReconciliationOfCashFlowsFromFinancingActivitiesFromCapitalSecuritiesTableTextBlock"/>
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    <link:label id="lab_bpy_CommercialPropertyMember_019e3b4c-3a5a-7fe9-b6ed-3e3901512efd_terseLabel_en-US" xlink:label="lab_bpy_CommercialPropertyMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commercial Property</link:label>
    <link:label id="lab_bpy_CommercialPropertyMember_label_en-US" xlink:label="lab_bpy_CommercialPropertyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commercial Property [Member]</link:label>
    <link:label id="lab_bpy_CommercialPropertyMember_documentation_en-US" xlink:label="lab_bpy_CommercialPropertyMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Commercial Property [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_CommercialPropertyMember" xlink:href="bpy-20260630.xsd#bpy_CommercialPropertyMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_CommercialPropertyMember" xlink:to="lab_bpy_CommercialPropertyMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_ManagementCommentaryExplanatoryTextBlock_019e3b4c-3a5a-703c-a478-ca685a46ebab_terseLabel_en-US" xlink:label="lab_bpy_ManagementCommentaryExplanatoryTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">ORGANIZATION AND NATURE OF THE BUSINESS</link:label>
    <link:label id="lab_bpy_ManagementCommentaryExplanatoryTextBlock_label_en-US" xlink:label="lab_bpy_ManagementCommentaryExplanatoryTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Management Commentary Explanatory [Text Block]</link:label>
    <link:label id="lab_bpy_ManagementCommentaryExplanatoryTextBlock_documentation_en-US" xlink:label="lab_bpy_ManagementCommentaryExplanatoryTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Management Commentary Explanatory [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_ManagementCommentaryExplanatoryTextBlock" xlink:href="bpy-20260630.xsd#bpy_ManagementCommentaryExplanatoryTextBlock"/>
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    <link:label id="lab_ifrs-full_ProceedsFromSalesOfInvestmentProperty_019e3b4c-3ae9-7927-8da0-877ab7177274_terseLabel_en-US" xlink:label="lab_ifrs-full_ProceedsFromSalesOfInvestmentProperty" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investment properties</link:label>
    <link:label id="lab_ifrs-full_ProceedsFromSalesOfInvestmentProperty_label_en-US" xlink:label="lab_ifrs-full_ProceedsFromSalesOfInvestmentProperty" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from sales of investment property</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ProceedsFromSalesOfInvestmentProperty" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ProceedsFromSalesOfInvestmentProperty"/>
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    <link:label id="lab_bpy_NetIncomeLossAllocatedToLimitedPartners1_019e3b4c-398b-7461-8b0d-29473c71fc0c_terseLabel_en-US" xlink:label="lab_bpy_NetIncomeLossAllocatedToLimitedPartners1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Limited partners</link:label>
    <link:label id="lab_bpy_NetIncomeLossAllocatedToLimitedPartners1_019eda1d-14c5-7019-8ca5-b88677b5f075_verboseLabel_en-US" xlink:label="lab_bpy_NetIncomeLossAllocatedToLimitedPartners1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Net loss</link:label>
    <link:label id="lab_bpy_NetIncomeLossAllocatedToLimitedPartners1_label_en-US" xlink:label="lab_bpy_NetIncomeLossAllocatedToLimitedPartners1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Income (Loss) Allocated To Limited Partners1</link:label>
    <link:label id="lab_bpy_NetIncomeLossAllocatedToLimitedPartners1_documentation_en-US" xlink:label="lab_bpy_NetIncomeLossAllocatedToLimitedPartners1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Net Income (Loss) Allocated to Limited Partners1</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_NetIncomeLossAllocatedToLimitedPartners1" xlink:href="bpy-20260630.xsd#bpy_NetIncomeLossAllocatedToLimitedPartners1"/>
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    <link:label id="lab_bpy_NumberOfPropertiesHeldForSale_019e3b4c-3ae9-74e2-8fe5-d2020b4e439a_terseLabel_en-US" xlink:label="lab_bpy_NumberOfPropertiesHeldForSale" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of assets held for sale</link:label>
    <link:label id="lab_bpy_NumberOfPropertiesHeldForSale_label_en-US" xlink:label="lab_bpy_NumberOfPropertiesHeldForSale" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number of Properties Held For Sale</link:label>
    <link:label id="lab_bpy_NumberOfPropertiesHeldForSale_documentation_en-US" xlink:label="lab_bpy_NumberOfPropertiesHeldForSale" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number of Properties Held For Sale</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_NumberOfPropertiesHeldForSale" xlink:href="bpy-20260630.xsd#bpy_NumberOfPropertiesHeldForSale"/>
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    <link:label id="lab_bpy_SouthKoreaMixedUsePortfolioMember_019f8879-f3c1-7d54-ba46-49c99694b286_terseLabel_en-US" xlink:label="lab_bpy_SouthKoreaMixedUsePortfolioMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">South Korea Mixed-Use</link:label>
    <link:label id="lab_bpy_SouthKoreaMixedUsePortfolioMember_label_en-US" xlink:label="lab_bpy_SouthKoreaMixedUsePortfolioMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">South Korea Mixed-Use Portfolio [Member]</link:label>
    <link:label id="lab_bpy_SouthKoreaMixedUsePortfolioMember_documentation_en-US" xlink:label="lab_bpy_SouthKoreaMixedUsePortfolioMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">South Korea Mixed-Use Portfolio</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_SouthKoreaMixedUsePortfolioMember" xlink:href="bpy-20260630.xsd#bpy_SouthKoreaMixedUsePortfolioMember"/>
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    <link:label id="lab_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesTable_019e3b4c-3ae9-761c-9837-38283418217e_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of subsidiaries [table]</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesTable" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesTable"/>
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    <link:label id="lab_bpy_BrookfieldCorporationMember_019e3b4c-3a5a-7645-b2b8-35b2bb069872_terseLabel_en-US" xlink:label="lab_bpy_BrookfieldCorporationMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Brookfield Corporation</link:label>
    <link:label id="lab_bpy_BrookfieldCorporationMember_label_en-US" xlink:label="lab_bpy_BrookfieldCorporationMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Brookfield Corporation [Member]</link:label>
    <link:label id="lab_bpy_BrookfieldCorporationMember_documentation_en-US" xlink:label="lab_bpy_BrookfieldCorporationMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Brookfield Corporation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_BrookfieldCorporationMember" xlink:href="bpy-20260630.xsd#bpy_BrookfieldCorporationMember"/>
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    <link:label id="lab_bpy_DividendsRecognizedAsDistributionToOwnersExcludingNoncontrollingInterest_documentation_en-US" xlink:label="lab_bpy_DividendsRecognizedAsDistributionToOwnersExcludingNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Dividends Recognized As Distribution To Owners, Excluding Noncontrolling Interest</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_DividendsRecognizedAsDistributionToOwnersExcludingNoncontrollingInterest" xlink:href="bpy-20260630.xsd#bpy_DividendsRecognizedAsDistributionToOwnersExcludingNoncontrollingInterest"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_DividendsRecognizedAsDistributionToOwnersExcludingNoncontrollingInterest" xlink:to="lab_bpy_DividendsRecognizedAsDistributionToOwnersExcludingNoncontrollingInterest" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_InterestsofOthersInOperatingSubsidiariesAndPropertiesMember_019e3b4c-398b-7364-84bf-1b3508f2f8de_terseLabel_en-US" xlink:label="lab_bpy_InterestsofOthersInOperatingSubsidiariesAndPropertiesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interests of others in operating subsidiaries and properties</link:label>
    <link:label id="lab_bpy_InterestsofOthersInOperatingSubsidiariesAndPropertiesMember_label_en-US" xlink:label="lab_bpy_InterestsofOthersInOperatingSubsidiariesAndPropertiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interests of Others In Operating Subsidiaries And Properties [Member]</link:label>
    <link:label id="lab_bpy_InterestsofOthersInOperatingSubsidiariesAndPropertiesMember_documentation_en-US" xlink:label="lab_bpy_InterestsofOthersInOperatingSubsidiariesAndPropertiesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Interests of Others In Operating Subsidiaries And Properties [Member]</link:label>
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    <link:label id="lab_bpy_NoncontrollingInterestInNetIncomeLossOtherNoncontrollingInterests_documentation_en-US" xlink:label="lab_bpy_NoncontrollingInterestInNetIncomeLossOtherNoncontrollingInterests" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Noncontrolling Interest in Net Income (Loss) Other Noncontrolling Interests</link:label>
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    <link:label id="lab_bpy_PropertyManagementFeeRevenue1_label_en-US" xlink:label="lab_bpy_PropertyManagementFeeRevenue1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property Management Fee Revenue1</link:label>
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    <link:label id="lab_ifrs-full_PropertyPlantAndEquipmentIncludingRightofuseAssets_019e3b4c-3ae9-7f30-ac37-66aaf6173a65_terseLabel_en-US" xlink:label="lab_ifrs-full_PropertyPlantAndEquipmentIncludingRightofuseAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Property, plant and equipment</link:label>
    <link:label id="lab_ifrs-full_PropertyPlantAndEquipmentIncludingRightofuseAssets_019e3b4c-3ae9-7927-87dd-28c93ccce0bb_periodStartLabel_en-US" xlink:label="lab_ifrs-full_PropertyPlantAndEquipmentIncludingRightofuseAssets" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Balance at the beginning of period</link:label>
    <link:label id="lab_ifrs-full_PropertyPlantAndEquipmentIncludingRightofuseAssets_019e3b4c-3ae9-7aa3-ae8f-6385568839c0_periodEndLabel_en-US" xlink:label="lab_ifrs-full_PropertyPlantAndEquipmentIncludingRightofuseAssets" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Balance at the end of period</link:label>
    <link:label id="lab_ifrs-full_PropertyPlantAndEquipmentIncludingRightofuseAssets_label_en-US" xlink:label="lab_ifrs-full_PropertyPlantAndEquipmentIncludingRightofuseAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property, plant and equipment including right-of-use assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_PropertyPlantAndEquipmentIncludingRightofuseAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_PropertyPlantAndEquipmentIncludingRightofuseAssets"/>
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    <link:label id="lab_ifrs-full_FinancialLiabilitiesAtFairValue_019edf8d-befd-7a59-b67b-57c6fe6b60b4_negatedLabel_en-US" xlink:label="lab_ifrs-full_FinancialLiabilitiesAtFairValue" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Financial liabilities</link:label>
    <link:label id="lab_ifrs-full_FinancialLiabilitiesAtFairValue_019e3b4c-3ae9-7f36-921c-f827eb2d177c_terseLabel_en-US" xlink:label="lab_ifrs-full_FinancialLiabilitiesAtFairValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair value of financial liabilities</link:label>
    <link:label id="lab_ifrs-full_FinancialLiabilitiesAtFairValue_label_en-US" xlink:label="lab_ifrs-full_FinancialLiabilitiesAtFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial liabilities, at fair value</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_FinancialLiabilitiesAtFairValue" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_FinancialLiabilitiesAtFairValue"/>
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    <link:label id="lab_ifrs-full_CurrentTaxExpenseIncome_019e3b4c-3a5a-7d2f-80e9-3e19f1eeee24_terseLabel_en-US" xlink:label="lab_ifrs-full_CurrentTaxExpenseIncome" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Current income tax</link:label>
    <link:label id="lab_ifrs-full_CurrentTaxExpenseIncome_label_en-US" xlink:label="lab_ifrs-full_CurrentTaxExpenseIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current tax expense (income)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CurrentTaxExpenseIncome" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_CurrentTaxExpenseIncome"/>
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    <link:label id="lab_bpy_GainsLossesOnChangeInFairValueOfDerivativesAndAdjustmentsToInvestmentProperties_019e3b4c-3ae9-792c-bd11-891b27fffe91_terseLabel_en-US" xlink:label="lab_bpy_GainsLossesOnChangeInFairValueOfDerivativesAndAdjustmentsToInvestmentProperties" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair value gains (losses), net</link:label>
    <link:label id="lab_bpy_GainsLossesOnChangeInFairValueOfDerivativesAndAdjustmentsToInvestmentProperties_019e3b4c-3ae9-76ac-a117-b82d24a9f202_negatedLabel_en-US" xlink:label="lab_bpy_GainsLossesOnChangeInFairValueOfDerivativesAndAdjustmentsToInvestmentProperties" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Fair value (gains) losses, net</link:label>
    <link:label id="lab_bpy_GainsLossesOnChangeInFairValueOfDerivativesAndAdjustmentsToInvestmentProperties_019e3b4c-3ae9-7b1c-a297-82cf50966eb0_totalLabel_en-US" xlink:label="lab_bpy_GainsLossesOnChangeInFairValueOfDerivativesAndAdjustmentsToInvestmentProperties" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total fair value gains (losses), net</link:label>
    <link:label id="lab_bpy_GainsLossesOnChangeInFairValueOfDerivativesAndAdjustmentsToInvestmentProperties_019e3b4c-3ae9-7f8a-b1d9-98cb72e86582_verboseLabel_en-US" xlink:label="lab_bpy_GainsLossesOnChangeInFairValueOfDerivativesAndAdjustmentsToInvestmentProperties" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Fair value gains (losses), net</link:label>
    <link:label id="lab_bpy_GainsLossesOnChangeInFairValueOfDerivativesAndAdjustmentsToInvestmentProperties_label_en-US" xlink:label="lab_bpy_GainsLossesOnChangeInFairValueOfDerivativesAndAdjustmentsToInvestmentProperties" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gains (Losses) On Change In Fair Value Of Derivatives And Adjustments To Investment Properties</link:label>
    <link:label id="lab_bpy_GainsLossesOnChangeInFairValueOfDerivativesAndAdjustmentsToInvestmentProperties_documentation_en-US" xlink:label="lab_bpy_GainsLossesOnChangeInFairValueOfDerivativesAndAdjustmentsToInvestmentProperties" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Gains (Losses) On Change In Fair Value Of Derivatives And Adjustments To Investment Properties</link:label>
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    <link:label id="lab_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis_019e3b4c-398b-7fa0-a8f4-f7f75d30e692_terseLabel_en-US" xlink:label="lab_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-adjusting events after reporting period [axis]</link:label>
    <link:label id="lab_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis_label_en-US" xlink:label="lab_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-adjusting events after reporting period [axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_NonadjustingEventsAfterReportingPeriodAxis"/>
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    <link:label id="lab_ifrs-full_HedgingInstrumentsDomain_label_en-US" xlink:label="lab_ifrs-full_HedgingInstrumentsDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Hedging instruments [domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_HedgingInstrumentsDomain" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_HedgingInstrumentsDomain"/>
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    <link:label id="lab_ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale_019e3b4c-398c-78b7-8277-fd08ea9d51c4_terseLabel_en-US" xlink:label="lab_ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Assets held for sale</link:label>
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    <link:label id="lab_ifrs-full_InvestmentPropertyCompletedMember_019e3b4c-3ae9-7886-8687-b8b637fded15_terseLabel_en-US" xlink:label="lab_ifrs-full_InvestmentPropertyCompletedMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commercial properties</link:label>
    <link:label id="lab_ifrs-full_InvestmentPropertyCompletedMember_019e3b4c-3ae9-7249-899a-f600caf8c286_verboseLabel_en-US" xlink:label="lab_ifrs-full_InvestmentPropertyCompletedMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Property</link:label>
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    <link:label id="lab_ifrs-full_ContinuingOperationsMember_label_en-US" xlink:label="lab_ifrs-full_ContinuingOperationsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Continuing operations, unless line item indicates otherwise [member]</link:label>
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    <link:label id="lab_ifrs-full_TopOfRangeMember_019e3b4c-398b-7d21-a07c-949288f6ba39_terseLabel_en-US" xlink:label="lab_ifrs-full_TopOfRangeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Top of range</link:label>
    <link:label id="lab_ifrs-full_TopOfRangeMember_label_en-US" xlink:label="lab_ifrs-full_TopOfRangeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Top of range [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_TopOfRangeMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_TopOfRangeMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_TopOfRangeMember" xlink:to="lab_ifrs-full_TopOfRangeMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_IntangibleAssetsAndGoodwillAbstract_label_en-US" xlink:label="lab_ifrs-full_IntangibleAssetsAndGoodwillAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible assets and goodwill [abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IntangibleAssetsAndGoodwillAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_IntangibleAssetsAndGoodwillAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IntangibleAssetsAndGoodwillAbstract" xlink:to="lab_ifrs-full_IntangibleAssetsAndGoodwillAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherNoncurrentAssets_019e3b4c-3a5a-7b70-b650-b1a9063ec8e6_terseLabel_en-US" xlink:label="lab_ifrs-full_OtherNoncurrentAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other non-current assets</link:label>
    <link:label id="lab_ifrs-full_OtherNoncurrentAssets_019e3b4c-3a5a-79f0-9209-a1dfe22e66fb_totalLabel_en-US" xlink:label="lab_ifrs-full_OtherNoncurrentAssets" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total other non-current assets</link:label>
    <link:label id="lab_ifrs-full_OtherNoncurrentAssets_label_en-US" xlink:label="lab_ifrs-full_OtherNoncurrentAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other non-current assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherNoncurrentAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_OtherNoncurrentAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherNoncurrentAssets" xlink:to="lab_ifrs-full_OtherNoncurrentAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_ProfitLossAttributableToOwnersUnitholders_019e3b4c-3a5a-79ec-8c50-b19c34519375_totalLabel_en-US" xlink:label="lab_bpy_ProfitLossAttributableToOwnersUnitholders" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net (losses) attributable to unitholders</link:label>
    <link:label id="lab_bpy_ProfitLossAttributableToOwnersUnitholders_label_en-US" xlink:label="lab_bpy_ProfitLossAttributableToOwnersUnitholders" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Profit (Loss), Attributable To Owners Unitholders</link:label>
    <link:label id="lab_bpy_ProfitLossAttributableToOwnersUnitholders_documentation_en-US" xlink:label="lab_bpy_ProfitLossAttributableToOwnersUnitholders" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Profit (Loss), Attributable To Owners Unitholders</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_ProfitLossAttributableToOwnersUnitholders" xlink:href="bpy-20260630.xsd#bpy_ProfitLossAttributableToOwnersUnitholders"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_ProfitLossAttributableToOwnersUnitholders" xlink:to="lab_bpy_ProfitLossAttributableToOwnersUnitholders" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_CrossCurrencySwapsOfCSOFRDebtMember_019ededc-a1f4-718f-b400-6aedaf9e5e88_terseLabel_en-US" xlink:label="lab_bpy_CrossCurrencySwapsOfCSOFRDebtMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cross currency swaps of C$ SOFR debt</link:label>
    <link:label id="lab_bpy_CrossCurrencySwapsOfCSOFRDebtMember_label_en-US" xlink:label="lab_bpy_CrossCurrencySwapsOfCSOFRDebtMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cross Currency Swaps of C$ SOFR Debt [Member]</link:label>
    <link:label id="lab_bpy_CrossCurrencySwapsOfCSOFRDebtMember_documentation_en-US" xlink:label="lab_bpy_CrossCurrencySwapsOfCSOFRDebtMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Cross Currency Swaps of C$ SOFR Debt</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_CrossCurrencySwapsOfCSOFRDebtMember" xlink:href="bpy-20260630.xsd#bpy_CrossCurrencySwapsOfCSOFRDebtMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_CrossCurrencySwapsOfCSOFRDebtMember" xlink:to="lab_bpy_CrossCurrencySwapsOfCSOFRDebtMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_TransferFromInvestmentPropertyUnderConstructionOrDevelopmentInvestmentProperty_019e3b4c-3a5a-7c2b-ae4e-c40cdaaba2d1_terseLabel_en-US" xlink:label="lab_ifrs-full_TransferFromInvestmentPropertyUnderConstructionOrDevelopmentInvestmentProperty" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Transfers between commercial properties and commercial developments</link:label>
    <link:label id="lab_ifrs-full_TransferFromInvestmentPropertyUnderConstructionOrDevelopmentInvestmentProperty_label_en-US" xlink:label="lab_ifrs-full_TransferFromInvestmentPropertyUnderConstructionOrDevelopmentInvestmentProperty" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Transfer from investment property under construction or development, investment property</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_TransferFromInvestmentPropertyUnderConstructionOrDevelopmentInvestmentProperty" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_TransferFromInvestmentPropertyUnderConstructionOrDevelopmentInvestmentProperty"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_TransferFromInvestmentPropertyUnderConstructionOrDevelopmentInvestmentProperty" xlink:to="lab_ifrs-full_TransferFromInvestmentPropertyUnderConstructionOrDevelopmentInvestmentProperty" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_A2026AcquisitionsMember_019f6164-5648-7762-af21-d799501b6443_terseLabel_en-US" xlink:label="lab_bpy_A2026AcquisitionsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2026 Acquisitions</link:label>
    <link:label id="lab_bpy_A2026AcquisitionsMember_label_en-US" xlink:label="lab_bpy_A2026AcquisitionsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">2026 Acquisitions [Member]</link:label>
    <link:label id="lab_bpy_A2026AcquisitionsMember_documentation_en-US" xlink:label="lab_bpy_A2026AcquisitionsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">2026 Acquisitions</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_A2026AcquisitionsMember" xlink:href="bpy-20260630.xsd#bpy_A2026AcquisitionsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_A2026AcquisitionsMember" xlink:to="lab_bpy_A2026AcquisitionsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_AggregatedIndividuallyImmaterialAssociatesMember_019e3b4c-3ae9-70c6-afc2-aa2ad01cb32a_terseLabel_en-US" xlink:label="lab_ifrs-full_AggregatedIndividuallyImmaterialAssociatesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Aggregated individually immaterial associates</link:label>
    <link:label id="lab_ifrs-full_AggregatedIndividuallyImmaterialAssociatesMember_label_en-US" xlink:label="lab_ifrs-full_AggregatedIndividuallyImmaterialAssociatesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Aggregated individually immaterial associates [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AggregatedIndividuallyImmaterialAssociatesMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_AggregatedIndividuallyImmaterialAssociatesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AggregatedIndividuallyImmaterialAssociatesMember" xlink:to="lab_ifrs-full_AggregatedIndividuallyImmaterialAssociatesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax_019e3b4c-3ae9-71ce-b31e-4264377e6465_totalLabel_en-US" xlink:label="lab_ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Items that will not be reclassified to net income:</link:label>
    <link:label id="lab_ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax_label_en-US" xlink:label="lab_ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other comprehensive income that will not be reclassified to profit or loss, net of tax</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:to="lab_ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_MiscellaneousOtherOperatingExpense_019e3b4c-3a5a-7aee-8893-6a5c062fef60_terseLabel_en-US" xlink:label="lab_ifrs-full_MiscellaneousOtherOperatingExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other</link:label>
    <link:label id="lab_ifrs-full_MiscellaneousOtherOperatingExpense_label_en-US" xlink:label="lab_ifrs-full_MiscellaneousOtherOperatingExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Miscellaneous other operating expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_MiscellaneousOtherOperatingExpense" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_MiscellaneousOtherOperatingExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_MiscellaneousOtherOperatingExpense" xlink:to="lab_ifrs-full_MiscellaneousOtherOperatingExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_AssetsAndLiabilitiesClassifiedAsHeldForSaleAxis_019e3b4c-398b-770e-aa13-c5f2e717e88b_terseLabel_en-US" xlink:label="lab_ifrs-full_AssetsAndLiabilitiesClassifiedAsHeldForSaleAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Assets and liabilities classified as held for sale [axis]</link:label>
    <link:label id="lab_ifrs-full_AssetsAndLiabilitiesClassifiedAsHeldForSaleAxis_label_en-US" xlink:label="lab_ifrs-full_AssetsAndLiabilitiesClassifiedAsHeldForSaleAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets and liabilities classified as held for sale [axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AssetsAndLiabilitiesClassifiedAsHeldForSaleAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_AssetsAndLiabilitiesClassifiedAsHeldForSaleAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AssetsAndLiabilitiesClassifiedAsHeldForSaleAxis" xlink:to="lab_ifrs-full_AssetsAndLiabilitiesClassifiedAsHeldForSaleAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_A6.25ClassACumulativeRedeemableUnitsSeries1Member_019eda97-3ff4-7c9f-ae68-fadc2e79a509_terseLabel_en-US" xlink:label="lab_bpy_A6.25ClassACumulativeRedeemableUnitsSeries1Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">6.25% Class A Cumulative Redeemable Units, Series 1</link:label>
    <link:label id="lab_bpy_A6.25ClassACumulativeRedeemableUnitsSeries1Member_label_en-US" xlink:label="lab_bpy_A6.25ClassACumulativeRedeemableUnitsSeries1Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">6.25% Class A Cumulative Redeemable Units, Series 1 [Member]</link:label>
    <link:label id="lab_bpy_A6.25ClassACumulativeRedeemableUnitsSeries1Member_documentation_en-US" xlink:label="lab_bpy_A6.25ClassACumulativeRedeemableUnitsSeries1Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">6.25% Class A Cumulative Redeemable Units, Series 1</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_A6.25ClassACumulativeRedeemableUnitsSeries1Member" xlink:href="bpy-20260630.xsd#bpy_A6.25ClassACumulativeRedeemableUnitsSeries1Member"/>
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    <link:label id="lab_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_019e3b4c-3a5a-72ae-8fdf-4cf1f18ee13f_terseLabel_en-US" xlink:label="lab_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Carrying amount, accumulated depreciation, amortisation and impairment and gross carrying amount [axis]</link:label>
    <link:label id="lab_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_label_en-US" xlink:label="lab_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Carrying amount, accumulated depreciation, amortisation and impairment and gross carrying amount [axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:to="lab_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_JointVenturesAxis_019e3b4c-3a5a-7f72-88e9-832cc727b3c7_terseLabel_en-US" xlink:label="lab_ifrs-full_JointVenturesAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Joint ventures [axis]</link:label>
    <link:label id="lab_ifrs-full_JointVenturesAxis_label_en-US" xlink:label="lab_ifrs-full_JointVenturesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Joint ventures [axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_JointVenturesAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_JointVenturesAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_JointVenturesAxis" xlink:to="lab_ifrs-full_JointVenturesAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_CoreOfficeSectorMember_019e3b4c-3a5a-7589-8f1b-96d32a6e8bea_terseLabel_en-US" xlink:label="lab_bpy_CoreOfficeSectorMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Office</link:label>
    <link:label id="lab_bpy_CoreOfficeSectorMember_label_en-US" xlink:label="lab_bpy_CoreOfficeSectorMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Core Office Sector [Member]</link:label>
    <link:label id="lab_bpy_CoreOfficeSectorMember_documentation_en-US" xlink:label="lab_bpy_CoreOfficeSectorMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Core Office Sector [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_CoreOfficeSectorMember" xlink:href="bpy-20260630.xsd#bpy_CoreOfficeSectorMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_CoreOfficeSectorMember" xlink:to="lab_bpy_CoreOfficeSectorMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_OtherGeneralAndAdministrativeExpense1_019e3b4c-3ae9-7205-94e6-d85ea51db2f1_terseLabel_en-US" xlink:label="lab_bpy_OtherGeneralAndAdministrativeExpense1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other</link:label>
    <link:label id="lab_bpy_OtherGeneralAndAdministrativeExpense1_label_en-US" xlink:label="lab_bpy_OtherGeneralAndAdministrativeExpense1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other General And Administrative Expense1</link:label>
    <link:label id="lab_bpy_OtherGeneralAndAdministrativeExpense1_documentation_en-US" xlink:label="lab_bpy_OtherGeneralAndAdministrativeExpense1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other General And Administrative Expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_OtherGeneralAndAdministrativeExpense1" xlink:href="bpy-20260630.xsd#bpy_OtherGeneralAndAdministrativeExpense1"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_OtherGeneralAndAdministrativeExpense1" xlink:to="lab_bpy_OtherGeneralAndAdministrativeExpense1" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_GainsLossesOnFairValueAdjustmentInvestmentProperty_019e3b4c-398b-7191-9d16-68d5d6cff916_verboseLabel_en-US" xlink:label="lab_ifrs-full_GainsLossesOnFairValueAdjustmentInvestmentProperty" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Fair value gains (losses), net</link:label>
    <link:label id="lab_ifrs-full_GainsLossesOnFairValueAdjustmentInvestmentProperty_019e3b4c-398b-721f-a4c5-1eecec7f400b_netLabel_en-US" xlink:label="lab_ifrs-full_GainsLossesOnFairValueAdjustmentInvestmentProperty" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Gains (losses) on fair value adjustment, investment property</link:label>
    <link:label id="lab_ifrs-full_GainsLossesOnFairValueAdjustmentInvestmentProperty_label_en-US" xlink:label="lab_ifrs-full_GainsLossesOnFairValueAdjustmentInvestmentProperty" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gains (losses) on fair value adjustment, investment property</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_GainsLossesOnFairValueAdjustmentInvestmentProperty" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_GainsLossesOnFairValueAdjustmentInvestmentProperty"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_GainsLossesOnFairValueAdjustmentInvestmentProperty" xlink:to="lab_ifrs-full_GainsLossesOnFairValueAdjustmentInvestmentProperty" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_CashAndCashEquivalents1Member_019e3b4c-3a5a-7d13-9f65-a2e1601887b9_terseLabel_en-US" xlink:label="lab_bpy_CashAndCashEquivalents1Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents</link:label>
    <link:label id="lab_bpy_CashAndCashEquivalents1Member_label_en-US" xlink:label="lab_bpy_CashAndCashEquivalents1Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash And Cash Equivalents1 [Member]</link:label>
    <link:label id="lab_bpy_CashAndCashEquivalents1Member_documentation_en-US" xlink:label="lab_bpy_CashAndCashEquivalents1Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Cash And Cash Equivalents1</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_CashAndCashEquivalents1Member" xlink:href="bpy-20260630.xsd#bpy_CashAndCashEquivalents1Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_CashAndCashEquivalents1Member" xlink:to="lab_bpy_CashAndCashEquivalents1Member" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_PreferredEquityTrancheThreeMember_019e3b4c-398b-7443-b960-905956ec2f26_terseLabel_en-US" xlink:label="lab_bpy_PreferredEquityTrancheThreeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Preferred Equity, Tranche Three</link:label>
    <link:label id="lab_bpy_PreferredEquityTrancheThreeMember_label_en-US" xlink:label="lab_bpy_PreferredEquityTrancheThreeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Equity, Tranche Three [Member]</link:label>
    <link:label id="lab_bpy_PreferredEquityTrancheThreeMember_documentation_en-US" xlink:label="lab_bpy_PreferredEquityTrancheThreeMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Preferred Equity, Tranche Three</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_PreferredEquityTrancheThreeMember" xlink:href="bpy-20260630.xsd#bpy_PreferredEquityTrancheThreeMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_PreferredEquityTrancheThreeMember" xlink:to="lab_bpy_PreferredEquityTrancheThreeMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_BorrowingsByNameDomain_019e3b4c-3a5a-7ddc-829f-d019449d6090_terseLabel_en-US" xlink:label="lab_ifrs-full_BorrowingsByNameDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Borrowings by name</link:label>
    <link:label id="lab_ifrs-full_BorrowingsByNameDomain_label_en-US" xlink:label="lab_ifrs-full_BorrowingsByNameDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Borrowings by name [domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_BorrowingsByNameDomain" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_BorrowingsByNameDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_BorrowingsByNameDomain" xlink:to="lab_ifrs-full_BorrowingsByNameDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_TradeReceivablesMember_019e3b4c-3a5a-781a-8b85-4d02d229ff15_terseLabel_en-US" xlink:label="lab_ifrs-full_TradeReceivablesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accounts receivable</link:label>
    <link:label id="lab_ifrs-full_TradeReceivablesMember_label_en-US" xlink:label="lab_ifrs-full_TradeReceivablesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trade receivables [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_TradeReceivablesMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_TradeReceivablesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_TradeReceivablesMember" xlink:to="lab_ifrs-full_TradeReceivablesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DecreaseInFairValueMeasurementDueToChangeInMultipleUnobservableInputsToReflectReasonablyPossibleAlternativeAssumptionsAssets_019e3b4c-398b-7c5c-8e1e-7e8b3dbbeb0f_terseLabel_en-US" xlink:label="lab_ifrs-full_DecreaseInFairValueMeasurementDueToChangeInMultipleUnobservableInputsToReflectReasonablyPossibleAlternativeAssumptionsAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total</link:label>
    <link:label id="lab_ifrs-full_DecreaseInFairValueMeasurementDueToChangeInMultipleUnobservableInputsToReflectReasonablyPossibleAlternativeAssumptionsAssets_label_en-US" xlink:label="lab_ifrs-full_DecreaseInFairValueMeasurementDueToChangeInMultipleUnobservableInputsToReflectReasonablyPossibleAlternativeAssumptionsAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Decrease in fair value measurement due to change in multiple unobservable inputs to reflect reasonably possible alternative assumptions, assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DecreaseInFairValueMeasurementDueToChangeInMultipleUnobservableInputsToReflectReasonablyPossibleAlternativeAssumptionsAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DecreaseInFairValueMeasurementDueToChangeInMultipleUnobservableInputsToReflectReasonablyPossibleAlternativeAssumptionsAssets"/>
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    <link:label id="lab_srt_StatementGeographicalAxis_019e3b4c-3a5a-781a-884d-69f69b9a0f77_terseLabel_en-US" xlink:label="lab_srt_StatementGeographicalAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Geographical [Axis]</link:label>
    <link:label id="lab_srt_StatementGeographicalAxis_label_en-US" xlink:label="lab_srt_StatementGeographicalAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Geographical [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_StatementGeographicalAxis" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_StatementGeographicalAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_StatementGeographicalAxis" xlink:to="lab_srt_StatementGeographicalAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_OtherNoncontrollingInterestsPreferredEquityOfSubsidiaries_019e3b4c-3a5a-752f-ae8a-c5e919392a7a_terseLabel_en-US" xlink:label="lab_bpy_OtherNoncontrollingInterestsPreferredEquityOfSubsidiaries" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Preferred equity of subsidiaries</link:label>
    <link:label id="lab_bpy_OtherNoncontrollingInterestsPreferredEquityOfSubsidiaries_label_en-US" xlink:label="lab_bpy_OtherNoncontrollingInterestsPreferredEquityOfSubsidiaries" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Noncontrolling Interests, Preferred Equity Of Subsidiaries</link:label>
    <link:label id="lab_bpy_OtherNoncontrollingInterestsPreferredEquityOfSubsidiaries_documentation_en-US" xlink:label="lab_bpy_OtherNoncontrollingInterestsPreferredEquityOfSubsidiaries" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other Noncontrolling Interests, Preferred Equity Of Subsidiaries</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_OtherNoncontrollingInterestsPreferredEquityOfSubsidiaries" xlink:href="bpy-20260630.xsd#bpy_OtherNoncontrollingInterestsPreferredEquityOfSubsidiaries"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_OtherNoncontrollingInterestsPreferredEquityOfSubsidiaries" xlink:to="lab_bpy_OtherNoncontrollingInterestsPreferredEquityOfSubsidiaries" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherComprehensiveIncome_019eda1c-c0d5-769f-9fe4-544baa68016b_totalLabel_en-US" xlink:label="lab_ifrs-full_OtherComprehensiveIncome" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total other comprehensive income (loss)</link:label>
    <link:label id="lab_ifrs-full_OtherComprehensiveIncome_019e3b4c-3a5a-7c16-a81f-1947ae5555b4_terseLabel_en-US" xlink:label="lab_ifrs-full_OtherComprehensiveIncome" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other comprehensive income (loss)</link:label>
    <link:label id="lab_ifrs-full_OtherComprehensiveIncome_label_en-US" xlink:label="lab_ifrs-full_OtherComprehensiveIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other comprehensive income</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherComprehensiveIncome" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_OtherComprehensiveIncome"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherComprehensiveIncome" xlink:to="lab_ifrs-full_OtherComprehensiveIncome" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_TransfersOutOfLevel3OfFairValueHierarchyAssets_019fb607-440a-790f-9cff-0b15c2467488_negatedLabel_en-US" xlink:label="lab_ifrs-full_TransfersOutOfLevel3OfFairValueHierarchyAssets" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Reclassification of Opportunistic Fund Investments to assets and liabilities held for sale</link:label>
    <link:label id="lab_ifrs-full_TransfersOutOfLevel3OfFairValueHierarchyAssets_label_en-US" xlink:label="lab_ifrs-full_TransfersOutOfLevel3OfFairValueHierarchyAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Transfers out of Level 3 of fair value hierarchy, assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_TransfersOutOfLevel3OfFairValueHierarchyAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_TransfersOutOfLevel3OfFairValueHierarchyAssets"/>
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    <link:label id="lab_ifrs-full_DecreaseThroughClassifiedAsHeldForSaleIntangibleAssetsOtherThanGoodwill_019f8a57-4f64-7738-8082-34f91a5ac3ff_terseLabel_en-US" xlink:label="lab_ifrs-full_DecreaseThroughClassifiedAsHeldForSaleIntangibleAssetsOtherThanGoodwill" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Intangible assets reclassified to assets held for sale</link:label>
    <link:label id="lab_ifrs-full_DecreaseThroughClassifiedAsHeldForSaleIntangibleAssetsOtherThanGoodwill_label_en-US" xlink:label="lab_ifrs-full_DecreaseThroughClassifiedAsHeldForSaleIntangibleAssetsOtherThanGoodwill" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Decrease through classified as held for sale, intangible assets other than goodwill</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DecreaseThroughClassifiedAsHeldForSaleIntangibleAssetsOtherThanGoodwill" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DecreaseThroughClassifiedAsHeldForSaleIntangibleAssetsOtherThanGoodwill"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DecreaseThroughClassifiedAsHeldForSaleIntangibleAssetsOtherThanGoodwill" xlink:to="lab_ifrs-full_DecreaseThroughClassifiedAsHeldForSaleIntangibleAssetsOtherThanGoodwill" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfInvestmentPropertyExplanatory_019e3b4c-398b-7f0b-824b-6236dd505788_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfInvestmentPropertyExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">INVESTMENT PROPERTIES</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfInvestmentPropertyExplanatory_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfInvestmentPropertyExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of investment property [text block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfInvestmentPropertyExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfInvestmentPropertyExplanatory"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfInvestmentPropertyExplanatory" xlink:to="lab_ifrs-full_DisclosureOfInvestmentPropertyExplanatory" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_InvestmentProperty_019e3b4c-3ae9-7a5e-b450-7bad3b4323e7_terseLabel_en-US" xlink:label="lab_ifrs-full_InvestmentProperty" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investment properties</link:label>
    <link:label id="lab_ifrs-full_InvestmentProperty_019e3b4c-3ae9-7312-a3b1-3b67c05cced4_periodStartLabel_en-US" xlink:label="lab_ifrs-full_InvestmentProperty" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Balance, beginning of period</link:label>
    <link:label id="lab_ifrs-full_InvestmentProperty_019e3b4c-3ae9-7dbc-a045-8d908c0d0a49_periodEndLabel_en-US" xlink:label="lab_ifrs-full_InvestmentProperty" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Balance, end of period</link:label>
    <link:label id="lab_ifrs-full_InvestmentProperty_label_en-US" xlink:label="lab_ifrs-full_InvestmentProperty" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment property</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_InvestmentProperty" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_InvestmentProperty"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_InvestmentProperty" xlink:to="lab_ifrs-full_InvestmentProperty" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges_019e3b4c-3a5a-7fed-b53f-61be20e15b56_totalLabel_en-US" xlink:label="lab_ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net change in cash and cash equivalents during the period</link:label>
    <link:label id="lab_ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges_label_en-US" xlink:label="lab_ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (decrease) in cash and cash equivalents before effect of exchange rate changes</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges"/>
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    <link:label id="lab_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis_019e3b4c-3ae9-71d6-a38c-16db4bbe12cf_terseLabel_en-US" xlink:label="lab_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Types of share-based payment arrangements [axis]</link:label>
    <link:label id="lab_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis_label_en-US" xlink:label="lab_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Types of share-based payment arrangements [axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_TypesOfSharebasedPaymentArrangementsAxis"/>
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    <link:label id="lab_bpy_InterestIncomeAndOtherRevenue_019e3b4c-398c-74fd-a74a-70b1a938807e_terseLabel_en-US" xlink:label="lab_bpy_InterestIncomeAndOtherRevenue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest income and other</link:label>
    <link:label id="lab_bpy_InterestIncomeAndOtherRevenue_label_en-US" xlink:label="lab_bpy_InterestIncomeAndOtherRevenue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Income And Other Revenue</link:label>
    <link:label id="lab_bpy_InterestIncomeAndOtherRevenue_documentation_en-US" xlink:label="lab_bpy_InterestIncomeAndOtherRevenue" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Interest Income And Other Revenue</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_InterestIncomeAndOtherRevenue" xlink:href="bpy-20260630.xsd#bpy_InterestIncomeAndOtherRevenue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_InterestIncomeAndOtherRevenue" xlink:to="lab_bpy_InterestIncomeAndOtherRevenue" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_FeeRevenue_019e3b4c-3a5a-7d89-b4e7-92772d694268_terseLabel_en-US" xlink:label="lab_bpy_FeeRevenue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fee revenue</link:label>
    <link:label id="lab_bpy_FeeRevenue_label_en-US" xlink:label="lab_bpy_FeeRevenue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fee Revenue</link:label>
    <link:label id="lab_bpy_FeeRevenue_documentation_en-US" xlink:label="lab_bpy_FeeRevenue" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Fee Revenue</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_FeeRevenue" xlink:href="bpy-20260630.xsd#bpy_FeeRevenue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_FeeRevenue" xlink:to="lab_bpy_FeeRevenue" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense_019e3b4c-398c-7278-8588-a3ba040e3862_terseLabel_en-US" xlink:label="lab_ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Depreciation and amortization</link:label>
    <link:label id="lab_ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense_label_en-US" xlink:label="lab_ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustments for depreciation and amortisation expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense"/>
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    <link:label id="lab_bpy_GeneralPartner1Member_019e3b4c-3ae9-74d0-a7f9-1131ffa6e3a2_terseLabel_en-US" xlink:label="lab_bpy_GeneralPartner1Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">General partner</link:label>
    <link:label id="lab_bpy_GeneralPartner1Member_label_en-US" xlink:label="lab_bpy_GeneralPartner1Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">General Partner1 [Member]</link:label>
    <link:label id="lab_bpy_GeneralPartner1Member_documentation_en-US" xlink:label="lab_bpy_GeneralPartner1Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">General Partner1 [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_GeneralPartner1Member" xlink:href="bpy-20260630.xsd#bpy_GeneralPartner1Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_GeneralPartner1Member" xlink:to="lab_bpy_GeneralPartner1Member" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_DividendPaymentsIntervalTerm_019e3b4c-3a5a-75b6-88bd-b2d07cef9aa9_terseLabel_en-US" xlink:label="lab_bpy_DividendPaymentsIntervalTerm" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Dividend payments, interval term</link:label>
    <link:label id="lab_bpy_DividendPaymentsIntervalTerm_label_en-US" xlink:label="lab_bpy_DividendPaymentsIntervalTerm" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividend Payments, Interval Term</link:label>
    <link:label id="lab_bpy_DividendPaymentsIntervalTerm_documentation_en-US" xlink:label="lab_bpy_DividendPaymentsIntervalTerm" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Dividend Payments, Interval Term</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_DividendPaymentsIntervalTerm" xlink:href="bpy-20260630.xsd#bpy_DividendPaymentsIntervalTerm"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_DividendPaymentsIntervalTerm" xlink:to="lab_bpy_DividendPaymentsIntervalTerm" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems_019e3b4c-3a5a-74df-9e1c-b246589b5f4a_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of subsidiaries [line items]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of subsidiaries [line items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems" xlink:to="lab_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfFairValueMeasurementOfLiabilitiesExplanatory_019e3b4c-3ae9-7e73-9a2c-36b13fe28887_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfFairValueMeasurementOfLiabilitiesExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Fair Value Measurement of Liabilities</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfFairValueMeasurementOfLiabilitiesExplanatory_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfFairValueMeasurementOfLiabilitiesExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of fair value measurement of liabilities [text block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfFairValueMeasurementOfLiabilitiesExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfFairValueMeasurementOfLiabilitiesExplanatory"/>
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    <link:label id="lab_bpy_PartnerTypeDomain_019e3b4c-3a5a-7262-a44a-b0486dc6b3ee_terseLabel_en-US" xlink:label="lab_bpy_PartnerTypeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Partner Type [Domain]</link:label>
    <link:label id="lab_bpy_PartnerTypeDomain_label_en-US" xlink:label="lab_bpy_PartnerTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Partner Type [Domain]</link:label>
    <link:label id="lab_bpy_PartnerTypeDomain_documentation_en-US" xlink:label="lab_bpy_PartnerTypeDomain" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Partner Type [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_PartnerTypeDomain" xlink:href="bpy-20260630.xsd#bpy_PartnerTypeDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_PartnerTypeDomain" xlink:to="lab_bpy_PartnerTypeDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_DeconsolidationInvestmentProperty_019e3b4c-3a5a-7e0f-8c2c-a2e4d87d1c4e_negatedTerseLabel_en-US" xlink:label="lab_bpy_DeconsolidationInvestmentProperty" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Deconsolidation</link:label>
    <link:label id="lab_bpy_DeconsolidationInvestmentProperty_label_en-US" xlink:label="lab_bpy_DeconsolidationInvestmentProperty" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deconsolidation, Investment Property</link:label>
    <link:label id="lab_bpy_DeconsolidationInvestmentProperty_documentation_en-US" xlink:label="lab_bpy_DeconsolidationInvestmentProperty" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Deconsolidation, Investment Property</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_DeconsolidationInvestmentProperty" xlink:href="bpy-20260630.xsd#bpy_DeconsolidationInvestmentProperty"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_DeconsolidationInvestmentProperty" xlink:to="lab_bpy_DeconsolidationInvestmentProperty" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_IdentifiableAssetsAcquiredRecognisedAsOfAcquisitionDate_019e3b4c-398b-71e2-a342-3ab6ac7f2676_terseLabel_en-US" xlink:label="lab_bpy_IdentifiableAssetsAcquiredRecognisedAsOfAcquisitionDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair value of total assets acquired</link:label>
    <link:label id="lab_bpy_IdentifiableAssetsAcquiredRecognisedAsOfAcquisitionDate_label_en-US" xlink:label="lab_bpy_IdentifiableAssetsAcquiredRecognisedAsOfAcquisitionDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Identifiable Assets Acquired Recognised As Of Acquisition Date</link:label>
    <link:label id="lab_bpy_IdentifiableAssetsAcquiredRecognisedAsOfAcquisitionDate_documentation_en-US" xlink:label="lab_bpy_IdentifiableAssetsAcquiredRecognisedAsOfAcquisitionDate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Identifiable Assets Acquired Recognised As Of Acquisition Date</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_IdentifiableAssetsAcquiredRecognisedAsOfAcquisitionDate" xlink:href="bpy-20260630.xsd#bpy_IdentifiableAssetsAcquiredRecognisedAsOfAcquisitionDate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_IdentifiableAssetsAcquiredRecognisedAsOfAcquisitionDate" xlink:to="lab_bpy_IdentifiableAssetsAcquiredRecognisedAsOfAcquisitionDate" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_CapitalSecuritiesIssues_019e3b4c-3ae9-7a8f-a79e-9f6b8b1c4083_terseLabel_en-US" xlink:label="lab_bpy_CapitalSecuritiesIssues" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Capital securities issued</link:label>
    <link:label id="lab_bpy_CapitalSecuritiesIssues_label_en-US" xlink:label="lab_bpy_CapitalSecuritiesIssues" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Capital Securities Issues</link:label>
    <link:label id="lab_bpy_CapitalSecuritiesIssues_documentation_en-US" xlink:label="lab_bpy_CapitalSecuritiesIssues" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Capital Securities Issues</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_CapitalSecuritiesIssues" xlink:href="bpy-20260630.xsd#bpy_CapitalSecuritiesIssues"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_CapitalSecuritiesIssues" xlink:to="lab_bpy_CapitalSecuritiesIssues" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_NoncurrentReceivables_019e3b4c-398b-7391-9614-d418b3211495_terseLabel_en-US" xlink:label="lab_ifrs-full_NoncurrentReceivables" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accounts receivable</link:label>
    <link:label id="lab_ifrs-full_NoncurrentReceivables_label_en-US" xlink:label="lab_ifrs-full_NoncurrentReceivables" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trade and other non-current receivables</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_NoncurrentReceivables" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_NoncurrentReceivables"/>
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    <link:label id="lab_bpy_RedeemableandExchangeableUnitsMember_019e3b4c-398b-711d-a9ac-47093fe20c3b_terseLabel_en-US" xlink:label="lab_bpy_RedeemableandExchangeableUnitsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Redeemable and Exchangeable Units</link:label>
    <link:label id="lab_bpy_RedeemableandExchangeableUnitsMember_label_en-US" xlink:label="lab_bpy_RedeemableandExchangeableUnitsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Redeemable and Exchangeable Units [Member]</link:label>
    <link:label id="lab_bpy_RedeemableandExchangeableUnitsMember_documentation_en-US" xlink:label="lab_bpy_RedeemableandExchangeableUnitsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Redeemable and Exchangeable Units [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_RedeemableandExchangeableUnitsMember" xlink:href="bpy-20260630.xsd#bpy_RedeemableandExchangeableUnitsMember"/>
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    <link:label id="lab_ifrs-full_DisclosureOfInvestmentPropertyAbstract_019e3b4c-3a5a-7583-8e08-2e099548e9dd_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfInvestmentPropertyAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about investment property [abstract]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfInvestmentPropertyAbstract_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfInvestmentPropertyAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about investment property [abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfInvestmentPropertyAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfInvestmentPropertyAbstract"/>
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    <link:label id="lab_bpy_OwnershipChangesMember_019e3b4c-3a5a-7b09-afab-8aa123c3c682_terseLabel_en-US" xlink:label="lab_bpy_OwnershipChangesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Ownership Changes</link:label>
    <link:label id="lab_bpy_OwnershipChangesMember_label_en-US" xlink:label="lab_bpy_OwnershipChangesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Ownership Changes [Member]</link:label>
    <link:label id="lab_bpy_OwnershipChangesMember_documentation_en-US" xlink:label="lab_bpy_OwnershipChangesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Ownership Changes [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_OwnershipChangesMember" xlink:href="bpy-20260630.xsd#bpy_OwnershipChangesMember"/>
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    <link:label id="lab_ifrs-full_SignificantInvestmentsInSubsidiariesDomain_019e3b4c-3ae9-7264-acb1-94208d583390_terseLabel_en-US" xlink:label="lab_ifrs-full_SignificantInvestmentsInSubsidiariesDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subsidiaries</link:label>
    <link:label id="lab_ifrs-full_SignificantInvestmentsInSubsidiariesDomain_label_en-US" xlink:label="lab_ifrs-full_SignificantInvestmentsInSubsidiariesDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsidiaries [domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_SignificantInvestmentsInSubsidiariesDomain" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_SignificantInvestmentsInSubsidiariesDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_SignificantInvestmentsInSubsidiariesDomain" xlink:to="lab_ifrs-full_SignificantInvestmentsInSubsidiariesDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities_019e3b4c-3a5a-7e78-95c8-c0d5bdf1993c_negatedTerseLabel_en-US" xlink:label="lab_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Debt obligations, repayments</link:label>
    <link:label id="lab_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities_label_en-US" xlink:label="lab_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Repayments of borrowings, classified as financing activities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities"/>
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    <link:label id="lab_bpy_PlanName1Domain_019e3b4c-3a5a-7bb9-a644-2b11b192ed9e_terseLabel_en-US" xlink:label="lab_bpy_PlanName1Domain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Plan Name1 [Domain]</link:label>
    <link:label id="lab_bpy_PlanName1Domain_label_en-US" xlink:label="lab_bpy_PlanName1Domain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Plan Name1 [Domain]</link:label>
    <link:label id="lab_bpy_PlanName1Domain_documentation_en-US" xlink:label="lab_bpy_PlanName1Domain" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Plan Name1 [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_PlanName1Domain" xlink:href="bpy-20260630.xsd#bpy_PlanName1Domain"/>
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    <link:label id="lab_ifrs-full_BorrowingsByNameAxis_019e3b4c-3a5a-766a-8934-e0202fd86f81_terseLabel_en-US" xlink:label="lab_ifrs-full_BorrowingsByNameAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Borrowings by name [axis]</link:label>
    <link:label id="lab_ifrs-full_BorrowingsByNameAxis_label_en-US" xlink:label="lab_ifrs-full_BorrowingsByNameAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Borrowings by name [axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_BorrowingsByNameAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_BorrowingsByNameAxis"/>
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    <link:label id="lab_bpy_LoansAndNotesPayableAndOtherLiabilities_019e3b4c-3a5a-7910-978c-4f2dcaa5077a_negatedTerseLabel_en-US" xlink:label="lab_bpy_LoansAndNotesPayableAndOtherLiabilities" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Debt obligations, payables and other liabilities</link:label>
    <link:label id="lab_bpy_LoansAndNotesPayableAndOtherLiabilities_label_en-US" xlink:label="lab_bpy_LoansAndNotesPayableAndOtherLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loans And Notes Payable And Other Liabilities</link:label>
    <link:label id="lab_bpy_LoansAndNotesPayableAndOtherLiabilities_documentation_en-US" xlink:label="lab_bpy_LoansAndNotesPayableAndOtherLiabilities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Loans And Notes Payable And Other Liabilities Receivables</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_LoansAndNotesPayableAndOtherLiabilities" xlink:href="bpy-20260630.xsd#bpy_LoansAndNotesPayableAndOtherLiabilities"/>
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    <link:label id="lab_ifrs-full_DisclosureOfTradeAndOtherPayablesExplanatory_019e3b4c-3a5a-7c0a-b467-e0771b555d1e_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfTradeAndOtherPayablesExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">ACCOUNTS PAYABLE AND OTHER LIABILITIES</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfTradeAndOtherPayablesExplanatory_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfTradeAndOtherPayablesExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of trade and other payables [text block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfTradeAndOtherPayablesExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfTradeAndOtherPayablesExplanatory"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfTradeAndOtherPayablesExplanatory" xlink:to="lab_ifrs-full_DisclosureOfTradeAndOtherPayablesExplanatory" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_NoncurrentDerivativeFinancialAssets_019e3b4c-3ae8-746c-8901-ea7fbd9bfa3c_terseLabel_en-US" xlink:label="lab_ifrs-full_NoncurrentDerivativeFinancialAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative assets</link:label>
    <link:label id="lab_ifrs-full_NoncurrentDerivativeFinancialAssets_label_en-US" xlink:label="lab_ifrs-full_NoncurrentDerivativeFinancialAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-current derivative financial assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_NoncurrentDerivativeFinancialAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_NoncurrentDerivativeFinancialAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_NoncurrentDerivativeFinancialAssets" xlink:to="lab_ifrs-full_NoncurrentDerivativeFinancialAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfClassesOfShareCapitalExplanatory_019e3b4c-3ae9-7669-bc3e-bccff44f3221_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfClassesOfShareCapitalExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Capital Securities</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfClassesOfShareCapitalExplanatory_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfClassesOfShareCapitalExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of classes of share capital [text block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfClassesOfShareCapitalExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfClassesOfShareCapitalExplanatory"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfClassesOfShareCapitalExplanatory" xlink:to="lab_ifrs-full_DisclosureOfClassesOfShareCapitalExplanatory" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_BrookfieldPropertyREITInc.SeniorSecuredNotesMember_019e3b4c-3a5a-7dca-b9ee-71d3d9d16d7a_terseLabel_en-US" xlink:label="lab_bpy_BrookfieldPropertyREITInc.SeniorSecuredNotesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">GGP senior secured notes</link:label>
    <link:label id="lab_bpy_BrookfieldPropertyREITInc.SeniorSecuredNotesMember_label_en-US" xlink:label="lab_bpy_BrookfieldPropertyREITInc.SeniorSecuredNotesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Brookfield Property REIT Inc. Senior Secured Notes [Member]</link:label>
    <link:label id="lab_bpy_BrookfieldPropertyREITInc.SeniorSecuredNotesMember_documentation_en-US" xlink:label="lab_bpy_BrookfieldPropertyREITInc.SeniorSecuredNotesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Brookfield Property REIT Inc. Senior Secured Notes [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_BrookfieldPropertyREITInc.SeniorSecuredNotesMember" xlink:href="bpy-20260630.xsd#bpy_BrookfieldPropertyREITInc.SeniorSecuredNotesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_BrookfieldPropertyREITInc.SeniorSecuredNotesMember" xlink:to="lab_bpy_BrookfieldPropertyREITInc.SeniorSecuredNotesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_AccumulatedImpairmentMember_019e3b4c-3a5a-78cd-b565-1d44dd68bf67_terseLabel_en-US" xlink:label="lab_ifrs-full_AccumulatedImpairmentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accumulated impairment</link:label>
    <link:label id="lab_ifrs-full_AccumulatedImpairmentMember_label_en-US" xlink:label="lab_ifrs-full_AccumulatedImpairmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accumulated impairment [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AccumulatedImpairmentMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_AccumulatedImpairmentMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AccumulatedImpairmentMember" xlink:to="lab_ifrs-full_AccumulatedImpairmentMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_U.S.MultifamilyMember_019e3b4c-3ae9-79ff-8487-c0799e424457_terseLabel_en-US" xlink:label="lab_bpy_U.S.MultifamilyMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">U.S. Multifamily(4)</link:label>
    <link:label id="lab_bpy_U.S.MultifamilyMember_label_en-US" xlink:label="lab_bpy_U.S.MultifamilyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">U.S. Multifamily [Member]</link:label>
    <link:label id="lab_bpy_U.S.MultifamilyMember_documentation_en-US" xlink:label="lab_bpy_U.S.MultifamilyMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">U.S. Multifamily</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_U.S.MultifamilyMember" xlink:href="bpy-20260630.xsd#bpy_U.S.MultifamilyMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_U.S.MultifamilyMember" xlink:to="lab_bpy_U.S.MultifamilyMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_USManufacturedHousingMember_019e3b4c-3a5a-7a34-8308-d71fd57d7e42_terseLabel_en-US" xlink:label="lab_bpy_USManufacturedHousingMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">U.S. Manufactured Housing</link:label>
    <link:label id="lab_bpy_USManufacturedHousingMember_label_en-US" xlink:label="lab_bpy_USManufacturedHousingMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">U.S. Manufactured Housing [Member]</link:label>
    <link:label id="lab_bpy_USManufacturedHousingMember_documentation_en-US" xlink:label="lab_bpy_USManufacturedHousingMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">U.S. Manufactured Housing</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_USManufacturedHousingMember" xlink:href="bpy-20260630.xsd#bpy_USManufacturedHousingMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_USManufacturedHousingMember" xlink:to="lab_bpy_USManufacturedHousingMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfFinancialInstrumentsExplanatory_019e3b4c-398c-7265-9b09-0e3eab322b44_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfFinancialInstrumentsExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">FINANCIAL INSTRUMENTS</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfFinancialInstrumentsExplanatory_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfFinancialInstrumentsExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of financial instruments [text block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfFinancialInstrumentsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfFinancialInstrumentsExplanatory"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfFinancialInstrumentsExplanatory" xlink:to="lab_ifrs-full_DisclosureOfFinancialInstrumentsExplanatory" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory_019e3b4c-3a5a-7d87-9e7f-f21507913919_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">OBLIGATIONS, GUARANTEES, CONTINGENCIES AND OTHER</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of commitments and contingent liabilities [text block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory" xlink:to="lab_ifrs-full_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory_019e3b4c-3a5a-774f-bf67-534f581092c6_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Detailed Information about Property, Plant and Equipment</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about property, plant and equipment [text block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory" xlink:to="lab_ifrs-full_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_BorrowingsInterestRate_019e3b4c-398b-7622-af25-b03d05e81db4_terseLabel_en-US" xlink:label="lab_ifrs-full_BorrowingsInterestRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted-average rate</link:label>
    <link:label id="lab_ifrs-full_BorrowingsInterestRate_label_en-US" xlink:label="lab_ifrs-full_BorrowingsInterestRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Borrowings, interest rate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_BorrowingsInterestRate" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_BorrowingsInterestRate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_BorrowingsInterestRate" xlink:to="lab_ifrs-full_BorrowingsInterestRate" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CashFlowsFromUsedInInvestingActivities_019e3b4c-3a5a-7389-85fc-a9174911b006_totalLabel_en-US" xlink:label="lab_ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Cash flows from (used in) investing activities</link:label>
    <link:label id="lab_ifrs-full_CashFlowsFromUsedInInvestingActivities_label_en-US" xlink:label="lab_ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash flows from (used in) investing activities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_CashFlowsFromUsedInInvestingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:to="lab_ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_BrookfieldPropertyPartnersCorporateBondsMember_019e3b4c-3ae9-7105-b827-cf18582d2499_terseLabel_en-US" xlink:label="lab_bpy_BrookfieldPropertyPartnersCorporateBondsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Brookfield Property Partners&#8217; corporate bonds</link:label>
    <link:label id="lab_bpy_BrookfieldPropertyPartnersCorporateBondsMember_label_en-US" xlink:label="lab_bpy_BrookfieldPropertyPartnersCorporateBondsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Brookfield Property Partners' Corporate Bonds [Member]</link:label>
    <link:label id="lab_bpy_BrookfieldPropertyPartnersCorporateBondsMember_documentation_en-US" xlink:label="lab_bpy_BrookfieldPropertyPartnersCorporateBondsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Brookfield Property Partners' Corporate Bonds [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_BrookfieldPropertyPartnersCorporateBondsMember" xlink:href="bpy-20260630.xsd#bpy_BrookfieldPropertyPartnersCorporateBondsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_BrookfieldPropertyPartnersCorporateBondsMember" xlink:to="lab_bpy_BrookfieldPropertyPartnersCorporateBondsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_CapitalSecuritiesIssued_019e3b4c-3ae9-749b-b28d-ec4ea59163af_terseLabel_en-US" xlink:label="lab_bpy_CapitalSecuritiesIssued" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Capital securities issued</link:label>
    <link:label id="lab_bpy_CapitalSecuritiesIssued_label_en-US" xlink:label="lab_bpy_CapitalSecuritiesIssued" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Capital Securities Issued</link:label>
    <link:label id="lab_bpy_CapitalSecuritiesIssued_documentation_en-US" xlink:label="lab_bpy_CapitalSecuritiesIssued" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Capital Securities Issued</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_CapitalSecuritiesIssued" xlink:href="bpy-20260630.xsd#bpy_CapitalSecuritiesIssued"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_CapitalSecuritiesIssued" xlink:to="lab_bpy_CapitalSecuritiesIssued" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_PreferredStockDividendRatePercentage1_019e3b4c-398b-7f7e-aa5f-cf43703f8298_terseLabel_en-US" xlink:label="lab_bpy_PreferredStockDividendRatePercentage1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cumulative dividend rate</link:label>
    <link:label id="lab_bpy_PreferredStockDividendRatePercentage1_019e3b4c-398b-793c-b082-0d7871340a8e_verboseLabel_en-US" xlink:label="lab_bpy_PreferredStockDividendRatePercentage1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Coupon rate (as a percentage)</link:label>
    <link:label id="lab_bpy_PreferredStockDividendRatePercentage1_label_en-US" xlink:label="lab_bpy_PreferredStockDividendRatePercentage1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Stock, Dividend Rate, Percentage1</link:label>
    <link:label id="lab_bpy_PreferredStockDividendRatePercentage1_documentation_en-US" xlink:label="lab_bpy_PreferredStockDividendRatePercentage1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Preferred Stock, Dividend Rate, Percentage1</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_PreferredStockDividendRatePercentage1" xlink:href="bpy-20260630.xsd#bpy_PreferredStockDividendRatePercentage1"/>
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    <link:label id="lab_ifrs-full_RentalIncomeFromInvestmentPropertyNetOfDirectOperatingExpense_019e3b4c-3a5a-7928-9370-62a37622a596_terseLabel_en-US" xlink:label="lab_ifrs-full_RentalIncomeFromInvestmentPropertyNetOfDirectOperatingExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commercial property revenue</link:label>
    <link:label id="lab_ifrs-full_RentalIncomeFromInvestmentPropertyNetOfDirectOperatingExpense_label_en-US" xlink:label="lab_ifrs-full_RentalIncomeFromInvestmentPropertyNetOfDirectOperatingExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Rental income from investment property, net of direct operating expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_RentalIncomeFromInvestmentPropertyNetOfDirectOperatingExpense" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_RentalIncomeFromInvestmentPropertyNetOfDirectOperatingExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_RentalIncomeFromInvestmentPropertyNetOfDirectOperatingExpense" xlink:to="lab_ifrs-full_RentalIncomeFromInvestmentPropertyNetOfDirectOperatingExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfIntangibleAssetsLineItems_019e3b4c-3a5a-7ddc-8637-5737ec5c0d3d_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfIntangibleAssetsLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about intangible assets [line items]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfIntangibleAssetsLineItems_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfIntangibleAssetsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about intangible assets [line items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfIntangibleAssetsLineItems" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfIntangibleAssetsLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfIntangibleAssetsLineItems" xlink:to="lab_ifrs-full_DisclosureOfIntangibleAssetsLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_AccumulatedRevaluationAndImpairmentIncludingNettingMemberMember_019e3b4c-398b-796c-92f1-7690b2123852_terseLabel_en-US" xlink:label="lab_bpy_AccumulatedRevaluationAndImpairmentIncludingNettingMemberMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Revaluation (loss) surplus</link:label>
    <link:label id="lab_bpy_AccumulatedRevaluationAndImpairmentIncludingNettingMemberMember_label_en-US" xlink:label="lab_bpy_AccumulatedRevaluationAndImpairmentIncludingNettingMemberMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accumulated Revaluation And Impairment Including Netting Member [Member]</link:label>
    <link:label id="lab_bpy_AccumulatedRevaluationAndImpairmentIncludingNettingMemberMember_documentation_en-US" xlink:label="lab_bpy_AccumulatedRevaluationAndImpairmentIncludingNettingMemberMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Accumulated Revaluation And Impairment Including Netting Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_AccumulatedRevaluationAndImpairmentIncludingNettingMemberMember" xlink:href="bpy-20260630.xsd#bpy_AccumulatedRevaluationAndImpairmentIncludingNettingMemberMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_AccumulatedRevaluationAndImpairmentIncludingNettingMemberMember" xlink:to="lab_bpy_AccumulatedRevaluationAndImpairmentIncludingNettingMemberMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_EmployeeBenefitsExpense_019e3b4c-398b-7a62-877a-082445b75b85_terseLabel_en-US" xlink:label="lab_ifrs-full_EmployeeBenefitsExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Employee compensation and benefits</link:label>
    <link:label id="lab_ifrs-full_EmployeeBenefitsExpense_019e3b4c-398b-7d6b-bbc6-dac82b33908d_verboseLabel_en-US" xlink:label="lab_ifrs-full_EmployeeBenefitsExpense" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Employee compensation and benefits</link:label>
    <link:label id="lab_ifrs-full_EmployeeBenefitsExpense_label_en-US" xlink:label="lab_ifrs-full_EmployeeBenefitsExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Employee benefits expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_EmployeeBenefitsExpense" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_EmployeeBenefitsExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_EmployeeBenefitsExpense" xlink:to="lab_ifrs-full_EmployeeBenefitsExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill_019e3b4c-3a5a-76f0-9c1e-82896e71ec1b_negatedTerseLabel_en-US" xlink:label="lab_ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Amortization</link:label>
    <link:label id="lab_ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill_label_en-US" xlink:label="lab_ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amortisation, intangible assets other than goodwill</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill" xlink:to="lab_ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod_019e3b4c-3ae9-7cce-9a99-6f5d16ca6d8d_verboseLabel_en-US" xlink:label="lab_ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Investments in associates accounted for using equity method, Carrying value</link:label>
    <link:label id="lab_ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod_label_en-US" xlink:label="lab_ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investments in associates accounted for using equity method</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod" xlink:to="lab_ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_RevaluationIncreaseDecreaseRecognisedInProfitOrLossPropertyPlantAndEquipmentIncludingRightOfUseAssets_019edb0e-7b17-7754-8068-94646d981348_terseLabel_en-US" xlink:label="lab_bpy_RevaluationIncreaseDecreaseRecognisedInProfitOrLossPropertyPlantAndEquipmentIncludingRightOfUseAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Revaluation gain (loss) recognised in profit or loss</link:label>
    <link:label id="lab_bpy_RevaluationIncreaseDecreaseRecognisedInProfitOrLossPropertyPlantAndEquipmentIncludingRightOfUseAssets_label_en-US" xlink:label="lab_bpy_RevaluationIncreaseDecreaseRecognisedInProfitOrLossPropertyPlantAndEquipmentIncludingRightOfUseAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revaluation Increase (Decrease) Recognised in Profit or Loss, Property, Plant And Equipment, IncludingRight-of-use Assets</link:label>
    <link:label id="lab_bpy_RevaluationIncreaseDecreaseRecognisedInProfitOrLossPropertyPlantAndEquipmentIncludingRightOfUseAssets_documentation_en-US" xlink:label="lab_bpy_RevaluationIncreaseDecreaseRecognisedInProfitOrLossPropertyPlantAndEquipmentIncludingRightOfUseAssets" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Revaluation Increase (Decrease) Recognised in Profit or Loss, Property, Plant And Equipment, IncludingRight-of-use Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_RevaluationIncreaseDecreaseRecognisedInProfitOrLossPropertyPlantAndEquipmentIncludingRightOfUseAssets" xlink:href="bpy-20260630.xsd#bpy_RevaluationIncreaseDecreaseRecognisedInProfitOrLossPropertyPlantAndEquipmentIncludingRightOfUseAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_RevaluationIncreaseDecreaseRecognisedInProfitOrLossPropertyPlantAndEquipmentIncludingRightOfUseAssets" xlink:to="lab_bpy_RevaluationIncreaseDecreaseRecognisedInProfitOrLossPropertyPlantAndEquipmentIncludingRightOfUseAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CurrentAssets_019e3b4c-3ae9-76cd-bd32-90291a69bcca_terseLabel_en-US" xlink:label="lab_ifrs-full_CurrentAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Current assets</link:label>
    <link:label id="lab_ifrs-full_CurrentAssets_label_en-US" xlink:label="lab_ifrs-full_CurrentAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CurrentAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_CurrentAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CurrentAssets" xlink:to="lab_ifrs-full_CurrentAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_IncreaseDecreaseInWorkingCapital_019e3b4c-398b-7283-9280-2fb7ff328dbd_negatedTerseLabel_en-US" xlink:label="lab_ifrs-full_IncreaseDecreaseInWorkingCapital" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Working capital and other</link:label>
    <link:label id="lab_ifrs-full_IncreaseDecreaseInWorkingCapital_label_en-US" xlink:label="lab_ifrs-full_IncreaseDecreaseInWorkingCapital" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (decrease) in working capital</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IncreaseDecreaseInWorkingCapital" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_IncreaseDecreaseInWorkingCapital"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IncreaseDecreaseInWorkingCapital" xlink:to="lab_ifrs-full_IncreaseDecreaseInWorkingCapital" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_PreferredEquityTrancheOneMember_019e3b4c-3a5a-706e-b07f-34d4e093dc0e_terseLabel_en-US" xlink:label="lab_bpy_PreferredEquityTrancheOneMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Preferred Equity Tranche One</link:label>
    <link:label id="lab_bpy_PreferredEquityTrancheOneMember_label_en-US" xlink:label="lab_bpy_PreferredEquityTrancheOneMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Equity Tranche One [Member]</link:label>
    <link:label id="lab_bpy_PreferredEquityTrancheOneMember_documentation_en-US" xlink:label="lab_bpy_PreferredEquityTrancheOneMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Preferred Equity Tranche One</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_PreferredEquityTrancheOneMember" xlink:href="bpy-20260630.xsd#bpy_PreferredEquityTrancheOneMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_PreferredEquityTrancheOneMember" xlink:to="lab_bpy_PreferredEquityTrancheOneMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_ManufacturedHousingPropertyMember_019e3b4c-3a5a-7792-b0d8-5b6a8cb8757a_terseLabel_en-US" xlink:label="lab_bpy_ManufacturedHousingPropertyMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Manufactured housing</link:label>
    <link:label id="lab_bpy_ManufacturedHousingPropertyMember_label_en-US" xlink:label="lab_bpy_ManufacturedHousingPropertyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Manufactured Housing Property [Member]</link:label>
    <link:label id="lab_bpy_ManufacturedHousingPropertyMember_documentation_en-US" xlink:label="lab_bpy_ManufacturedHousingPropertyMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Manufactured Housing [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_ManufacturedHousingPropertyMember" xlink:href="bpy-20260630.xsd#bpy_ManufacturedHousingPropertyMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_ManufacturedHousingPropertyMember" xlink:to="lab_bpy_ManufacturedHousingPropertyMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ContractualCapitalCommitments_019e3b4c-398b-71f3-8d1b-afe71c1e4c78_verboseLabel_en-US" xlink:label="lab_ifrs-full_ContractualCapitalCommitments" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Partnership commitments</link:label>
    <link:label id="lab_ifrs-full_ContractualCapitalCommitments_019e3b4c-398b-74fb-8ea9-e881144493b3_terseLabel_en-US" xlink:label="lab_ifrs-full_ContractualCapitalCommitments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Contractual capital commitments</link:label>
    <link:label id="lab_ifrs-full_ContractualCapitalCommitments_label_en-US" xlink:label="lab_ifrs-full_ContractualCapitalCommitments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Contractual capital commitments</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ContractualCapitalCommitments" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ContractualCapitalCommitments"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ContractualCapitalCommitments" xlink:to="lab_ifrs-full_ContractualCapitalCommitments" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfOperatingSegmentsTable_019e3b4c-3a5a-793a-80ad-eaba8eeae6b8_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfOperatingSegmentsTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of operating segments [table]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfOperatingSegmentsTable_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfOperatingSegmentsTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of operating segments [table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfOperatingSegmentsTable" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfOperatingSegmentsTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfOperatingSegmentsTable" xlink:to="lab_ifrs-full_DisclosureOfOperatingSegmentsTable" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_019fb5fb-8964-7729-b08f-eb5f359a2e6f_terseLabel_en-US" xlink:label="lab_srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Name of Property [Axis]</link:label>
    <link:label id="lab_srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_label_en-US" xlink:label="lab_srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Name of Property [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis" xlink:to="lab_srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_InterestRateSwapsOfUSDollarSOFRDebtMember_019e3b4c-3a5a-7315-a2b8-d5d2cbb3be85_terseLabel_en-US" xlink:label="lab_bpy_InterestRateSwapsOfUSDollarSOFRDebtMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest rate swaps of US$ SOFR debt</link:label>
    <link:label id="lab_bpy_InterestRateSwapsOfUSDollarSOFRDebtMember_label_en-US" xlink:label="lab_bpy_InterestRateSwapsOfUSDollarSOFRDebtMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Rate Swaps Of US Dollar SOFR Debt [Member]</link:label>
    <link:label id="lab_bpy_InterestRateSwapsOfUSDollarSOFRDebtMember_documentation_en-US" xlink:label="lab_bpy_InterestRateSwapsOfUSDollarSOFRDebtMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Interest Rate Swaps Of US Dollar SOFR Debt</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_InterestRateSwapsOfUSDollarSOFRDebtMember" xlink:href="bpy-20260630.xsd#bpy_InterestRateSwapsOfUSDollarSOFRDebtMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_InterestRateSwapsOfUSDollarSOFRDebtMember" xlink:to="lab_bpy_InterestRateSwapsOfUSDollarSOFRDebtMember" xlink:type="arc" order="1"/>
    <link:label id="lab_currency_HKD_019edd95-16eb-793e-8cd5-db481e2d0e8c_terseLabel_en-US" xlink:label="lab_currency_HKD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Hong Kong Dollar</link:label>
    <link:label id="lab_currency_HKD_label_en-US" xlink:label="lab_currency_HKD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Hong Kong, Dollars</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_currency_HKD" xlink:href="https://xbrl.sec.gov/currency/2025/currency-2025.xsd#currency_HKD"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_currency_HKD" xlink:to="lab_currency_HKD" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_SegmentsAxis_019e3b4c-398b-7e47-9c38-a1c9368fb3e1_terseLabel_en-US" xlink:label="lab_ifrs-full_SegmentsAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Segments [axis]</link:label>
    <link:label id="lab_ifrs-full_SegmentsAxis_label_en-US" xlink:label="lab_ifrs-full_SegmentsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Segments [axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_SegmentsAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_SegmentsAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_SegmentsAxis" xlink:to="lab_ifrs-full_SegmentsAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_OtherComprehensiveIncomeLossPortionAttributableToOtherNoncontrollingInterests_019e3b4c-3ae9-7b7f-a3f4-87a0b7a5b75b_terseLabel_en-US" xlink:label="lab_bpy_OtherComprehensiveIncomeLossPortionAttributableToOtherNoncontrollingInterests" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other comprehensive income (loss)</link:label>
    <link:label id="lab_bpy_OtherComprehensiveIncomeLossPortionAttributableToOtherNoncontrollingInterests_label_en-US" xlink:label="lab_bpy_OtherComprehensiveIncomeLossPortionAttributableToOtherNoncontrollingInterests" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Comprehensive Income (Loss), Portion Attributable To Other Noncontrolling Interests</link:label>
    <link:label id="lab_bpy_OtherComprehensiveIncomeLossPortionAttributableToOtherNoncontrollingInterests_documentation_en-US" xlink:label="lab_bpy_OtherComprehensiveIncomeLossPortionAttributableToOtherNoncontrollingInterests" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other Comprehensive Income (Loss), Portion Attributable To Other Noncontrolling Interests</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_OtherComprehensiveIncomeLossPortionAttributableToOtherNoncontrollingInterests" xlink:href="bpy-20260630.xsd#bpy_OtherComprehensiveIncomeLossPortionAttributableToOtherNoncontrollingInterests"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_OtherComprehensiveIncomeLossPortionAttributableToOtherNoncontrollingInterests" xlink:to="lab_bpy_OtherComprehensiveIncomeLossPortionAttributableToOtherNoncontrollingInterests" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_IssuedCapitalPreferenceShares_019e3b4c-398b-7287-a1de-1dc7fef68b7e_terseLabel_en-US" xlink:label="lab_ifrs-full_IssuedCapitalPreferenceShares" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Preferred equity</link:label>
    <link:label id="lab_ifrs-full_IssuedCapitalPreferenceShares_label_en-US" xlink:label="lab_ifrs-full_IssuedCapitalPreferenceShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Issued capital, preference shares</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IssuedCapitalPreferenceShares" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_IssuedCapitalPreferenceShares"/>
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    <link:label id="lab_bpy_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod_019e3b4c-3a5a-7a8e-9abb-3c459b2af012_terseLabel_en-US" xlink:label="lab_bpy_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Award vesting period</link:label>
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    <link:label id="lab_bpy_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod_documentation_en-US" xlink:label="lab_bpy_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod" xlink:href="bpy-20260630.xsd#bpy_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod"/>
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    <link:label id="lab_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesTable_019e3b4c-3a5a-7bf2-96cb-f07ed463c594_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of transactions between related parties [table]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesTable_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of transactions between related parties [table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesTable" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesTable" xlink:to="lab_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesTable" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodNetOfTaxAbstract_019e3b4c-3ae9-7591-b0c0-149d5ff272b8_terseLabel_en-US" xlink:label="lab_ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodNetOfTaxAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity accounted investments</link:label>
    <link:label id="lab_ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodNetOfTaxAbstract_label_en-US" xlink:label="lab_ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodNetOfTaxAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share of other comprehensive income of associates and joint ventures accounted for using equity method, net of tax [abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodNetOfTaxAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodNetOfTaxAbstract"/>
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    <link:label id="lab_ifrs-full_AdjustmentsForFairValueGainsLosses_019e3b4c-398b-7d06-b8a6-8738f3dd9eec_negatedLabel_en-US" xlink:label="lab_ifrs-full_AdjustmentsForFairValueGainsLosses" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Fair value gains, net</link:label>
    <link:label id="lab_ifrs-full_AdjustmentsForFairValueGainsLosses_label_en-US" xlink:label="lab_ifrs-full_AdjustmentsForFairValueGainsLosses" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustments for fair value losses (gains)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AdjustmentsForFairValueGainsLosses" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_AdjustmentsForFairValueGainsLosses"/>
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    <link:label id="lab_ifrs-full_DepreciationPropertyPlantAndEquipment_019e3b4c-3a5a-7931-beb2-48f74892f46d_negatedTerseLabel_en-US" xlink:label="lab_ifrs-full_DepreciationPropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Depreciation</link:label>
    <link:label id="lab_ifrs-full_DepreciationPropertyPlantAndEquipment_label_en-US" xlink:label="lab_ifrs-full_DepreciationPropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Depreciation, property, plant and equipment</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DepreciationPropertyPlantAndEquipment" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DepreciationPropertyPlantAndEquipment"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DepreciationPropertyPlantAndEquipment" xlink:to="lab_ifrs-full_DepreciationPropertyPlantAndEquipment" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_TypesOfHedgesAxis_019e3b4c-3a5a-7c3f-a590-12a2dfbbdade_terseLabel_en-US" xlink:label="lab_ifrs-full_TypesOfHedgesAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Types of hedges [axis]</link:label>
    <link:label id="lab_ifrs-full_TypesOfHedgesAxis_label_en-US" xlink:label="lab_ifrs-full_TypesOfHedgesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Types of hedges [axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_TypesOfHedgesAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_TypesOfHedgesAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_TypesOfHedgesAxis" xlink:to="lab_ifrs-full_TypesOfHedgesAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_PurchaseOfInvestmentProperty_019e3b4c-3ae9-71fa-b697-0c38a13217aa_negatedLabel_en-US" xlink:label="lab_ifrs-full_PurchaseOfInvestmentProperty" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Investment properties</link:label>
    <link:label id="lab_ifrs-full_PurchaseOfInvestmentProperty_label_en-US" xlink:label="lab_ifrs-full_PurchaseOfInvestmentProperty" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Purchase of investment property</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_PurchaseOfInvestmentProperty" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_PurchaseOfInvestmentProperty"/>
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    <link:label id="lab_ifrs-full_FinancialAssetsAtAmortisedCostCategoryMember_019e3b4c-398c-784b-adb1-dc4ed00c1049_terseLabel_en-US" xlink:label="lab_ifrs-full_FinancialAssetsAtAmortisedCostCategoryMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amortized cost</link:label>
    <link:label id="lab_ifrs-full_FinancialAssetsAtAmortisedCostCategoryMember_label_en-US" xlink:label="lab_ifrs-full_FinancialAssetsAtAmortisedCostCategoryMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial assets at amortised cost, category [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_FinancialAssetsAtAmortisedCostCategoryMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_FinancialAssetsAtAmortisedCostCategoryMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_FinancialAssetsAtAmortisedCostCategoryMember" xlink:to="lab_ifrs-full_FinancialAssetsAtAmortisedCostCategoryMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_ShareOfExchangeDifferencesOnTranslationOfAssociatesAndJointVenturesAccountedForUsingEquityMethodNetOfTax_019e3b4c-3ae9-72e7-8d71-d91c025583d1_terseLabel_en-US" xlink:label="lab_bpy_ShareOfExchangeDifferencesOnTranslationOfAssociatesAndJointVenturesAccountedForUsingEquityMethodNetOfTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share of unrealized foreign currency translation (losses) gains in respect of foreign operations</link:label>
    <link:label id="lab_bpy_ShareOfExchangeDifferencesOnTranslationOfAssociatesAndJointVenturesAccountedForUsingEquityMethodNetOfTax_label_en-US" xlink:label="lab_bpy_ShareOfExchangeDifferencesOnTranslationOfAssociatesAndJointVenturesAccountedForUsingEquityMethodNetOfTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share Of Exchange Differences On Translation Of Associates And Joint Ventures Accounted For Using Equity Method, Net Of Tax</link:label>
    <link:label id="lab_bpy_ShareOfExchangeDifferencesOnTranslationOfAssociatesAndJointVenturesAccountedForUsingEquityMethodNetOfTax_documentation_en-US" xlink:label="lab_bpy_ShareOfExchangeDifferencesOnTranslationOfAssociatesAndJointVenturesAccountedForUsingEquityMethodNetOfTax" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Share Of Exchange Differences On Translation Of Associates And Joint Ventures Accounted For Using Equity Method, Net Of Tax</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_ShareOfExchangeDifferencesOnTranslationOfAssociatesAndJointVenturesAccountedForUsingEquityMethodNetOfTax" xlink:href="bpy-20260630.xsd#bpy_ShareOfExchangeDifferencesOnTranslationOfAssociatesAndJointVenturesAccountedForUsingEquityMethodNetOfTax"/>
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    <link:label id="lab_ifrs-full_ParValuePerShare_019e3b4c-3a5a-7cca-bda7-9d0e47adf4a0_terseLabel_en-US" xlink:label="lab_ifrs-full_ParValuePerShare" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Par value per share (in dollars per share)</link:label>
    <link:label id="lab_ifrs-full_ParValuePerShare_label_en-US" xlink:label="lab_ifrs-full_ParValuePerShare" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Par value per share</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ParValuePerShare" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ParValuePerShare"/>
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    <link:label id="lab_ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory_019e3b4c-398c-70f2-9a65-ed31207f180d_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">PROPERTY, PLANT AND EQUIPMENT</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of property, plant and equipment [text block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory"/>
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    <link:label id="lab_ifrs-full_DisclosureOfJointVenturesExplanatory_019edaff-3364-7cdd-a1eb-34b3557228ad_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfJointVenturesExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Financial Information of Joint Ventures</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfJointVenturesExplanatory_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfJointVenturesExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of joint ventures [text block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfJointVenturesExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfJointVenturesExplanatory"/>
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    <link:label id="lab_bpy_REITDebtObligationsMember_019e3b4c-3ae9-7ce6-a623-87ce87d35538_terseLabel_en-US" xlink:label="lab_bpy_REITDebtObligationsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">REIT Debt Obligations</link:label>
    <link:label id="lab_bpy_REITDebtObligationsMember_label_en-US" xlink:label="lab_bpy_REITDebtObligationsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">REIT Debt Obligations [Member]</link:label>
    <link:label id="lab_bpy_REITDebtObligationsMember_documentation_en-US" xlink:label="lab_bpy_REITDebtObligationsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">REIT Debt Obligations</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_REITDebtObligationsMember" xlink:href="bpy-20260630.xsd#bpy_REITDebtObligationsMember"/>
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    <link:label id="lab_dei_AmendmentFlag_019e3b4c-3ae9-7840-afb2-0cfa01d228c3_terseLabel_en-US" xlink:label="lab_dei_AmendmentFlag" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amendment Flag</link:label>
    <link:label id="lab_dei_AmendmentFlag_label_en-US" xlink:label="lab_dei_AmendmentFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amendment Flag</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_AmendmentFlag" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_AmendmentFlag"/>
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    <link:label id="lab_ifrs-full_ComponentsOfEquityDomain_019e3b4c-3a5a-71db-bf52-0d430632f17e_terseLabel_en-US" xlink:label="lab_ifrs-full_ComponentsOfEquityDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Components of equity</link:label>
    <link:label id="lab_ifrs-full_ComponentsOfEquityDomain_label_en-US" xlink:label="lab_ifrs-full_ComponentsOfEquityDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Components of equity [domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ComponentsOfEquityDomain" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_ComponentsOfEquityDomain"/>
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    <link:label id="lab_ifrs-full_DividendsPaid_019e3b4c-3a5a-704a-b178-c91126e25b76_negatedTerseLabel_en-US" xlink:label="lab_ifrs-full_DividendsPaid" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Distributions</link:label>
    <link:label id="lab_ifrs-full_DividendsPaid_019e3b4c-3a5a-7168-816b-a595a8b28614_terseLabel_en-US" xlink:label="lab_ifrs-full_DividendsPaid" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Limited Partners</link:label>
    <link:label id="lab_ifrs-full_DividendsPaid_label_en-US" xlink:label="lab_ifrs-full_DividendsPaid" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividends recognised as distributions to owners</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DividendsPaid" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DividendsPaid"/>
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    <link:label id="lab_ifrs-full_DisclosureOfOperatingSegmentsLineItems_019e3b4c-3a5a-7061-8594-e3e6a1028b9c_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfOperatingSegmentsLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of operating segments [line items]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfOperatingSegmentsLineItems_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfOperatingSegmentsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of operating segments [line items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfOperatingSegmentsLineItems" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_DisclosureOfOperatingSegmentsLineItems"/>
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    <link:label id="lab_ifrs-full_UnsecuredBankLoansReceived_019e3b4c-3a5a-7422-bf9b-2a2ec145be38_terseLabel_en-US" xlink:label="lab_ifrs-full_UnsecuredBankLoansReceived" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Corporate unsecured facilities:</link:label>
    <link:label id="lab_ifrs-full_UnsecuredBankLoansReceived_label_en-US" xlink:label="lab_ifrs-full_UnsecuredBankLoansReceived" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unsecured bank loans received</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_UnsecuredBankLoansReceived" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_UnsecuredBankLoansReceived"/>
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    <link:label id="lab_ifrs-full_WeightedAverageMember_019e3b4c-3a5a-79b3-a90d-e480a8e0aacf_terseLabel_en-US" xlink:label="lab_ifrs-full_WeightedAverageMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted-average rate</link:label>
    <link:label id="lab_ifrs-full_WeightedAverageMember_label_en-US" xlink:label="lab_ifrs-full_WeightedAverageMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Weighted average [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_WeightedAverageMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_WeightedAverageMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_WeightedAverageMember" xlink:to="lab_ifrs-full_WeightedAverageMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_NoncontrollingInterestInNetIncomeLossOtherNoncontrollingInterestsNonFundsFromOperations_019e3b4c-398b-757e-932e-75ec48db8b7f_terseLabel_en-US" xlink:label="lab_bpy_NoncontrollingInterestInNetIncomeLossOtherNoncontrollingInterestsNonFundsFromOperations" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-controlling interests of others in operating subsidiaries and properties &#8211; non-FFO</link:label>
    <link:label id="lab_bpy_NoncontrollingInterestInNetIncomeLossOtherNoncontrollingInterestsNonFundsFromOperations_label_en-US" xlink:label="lab_bpy_NoncontrollingInterestInNetIncomeLossOtherNoncontrollingInterestsNonFundsFromOperations" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Noncontrolling Interest In Net Income (Loss), Other Noncontrolling Interests, Non Funds From Operations</link:label>
    <link:label id="lab_bpy_NoncontrollingInterestInNetIncomeLossOtherNoncontrollingInterestsNonFundsFromOperations_documentation_en-US" xlink:label="lab_bpy_NoncontrollingInterestInNetIncomeLossOtherNoncontrollingInterestsNonFundsFromOperations" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Noncontrolling Interest In Net Income (Loss), Other Noncontrolling Interests, Non Funds From Operations</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_NoncontrollingInterestInNetIncomeLossOtherNoncontrollingInterestsNonFundsFromOperations" xlink:href="bpy-20260630.xsd#bpy_NoncontrollingInterestInNetIncomeLossOtherNoncontrollingInterestsNonFundsFromOperations"/>
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    <link:label id="lab_ifrs-full_RangeDomain_019e3b4c-3a5a-7834-b020-bdd20ae5f0a6_terseLabel_en-US" xlink:label="lab_ifrs-full_RangeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Range</link:label>
    <link:label id="lab_ifrs-full_RangeDomain_label_en-US" xlink:label="lab_ifrs-full_RangeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Range [domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_RangeDomain" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_RangeDomain"/>
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    <link:label id="lab_bpy_BrookfieldPropertySplitCorpBOPSplitMember_019e3b4c-3a5a-73f0-a1f1-8e5860432bfa_verboseLabel_en-US" xlink:label="lab_bpy_BrookfieldPropertySplitCorpBOPSplitMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Brookfield Property Split Corp.</link:label>
    <link:label id="lab_bpy_BrookfieldPropertySplitCorpBOPSplitMember_label_en-US" xlink:label="lab_bpy_BrookfieldPropertySplitCorpBOPSplitMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Brookfield Property Split Corp (BOP Split) [Member]</link:label>
    <link:label id="lab_bpy_BrookfieldPropertySplitCorpBOPSplitMember_documentation_en-US" xlink:label="lab_bpy_BrookfieldPropertySplitCorpBOPSplitMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Brookfield Property Split Corp (BOP Split) [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_BrookfieldPropertySplitCorpBOPSplitMember" xlink:href="bpy-20260630.xsd#bpy_BrookfieldPropertySplitCorpBOPSplitMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_BrookfieldPropertySplitCorpBOPSplitMember" xlink:to="lab_bpy_BrookfieldPropertySplitCorpBOPSplitMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_AuthorisedCapitalCommitmentsButNotContractedFor_019e3b4c-3a5a-74a4-bef6-9b630f990c78_terseLabel_en-US" xlink:label="lab_ifrs-full_AuthorisedCapitalCommitmentsButNotContractedFor" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unfulfilled commitments</link:label>
    <link:label id="lab_ifrs-full_AuthorisedCapitalCommitmentsButNotContractedFor_label_en-US" xlink:label="lab_ifrs-full_AuthorisedCapitalCommitmentsButNotContractedFor" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Authorised capital commitments but not contracted for</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AuthorisedCapitalCommitmentsButNotContractedFor" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_AuthorisedCapitalCommitmentsButNotContractedFor"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AuthorisedCapitalCommitmentsButNotContractedFor" xlink:to="lab_ifrs-full_AuthorisedCapitalCommitmentsButNotContractedFor" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_CorePremierRetailCentersMember_019e3b4c-3ae9-7004-b89c-bed55c34e22e_terseLabel_en-US" xlink:label="lab_bpy_CorePremierRetailCentersMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Core premier retail centers</link:label>
    <link:label id="lab_bpy_CorePremierRetailCentersMember_label_en-US" xlink:label="lab_bpy_CorePremierRetailCentersMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Core Premier Retail Centers [Member]</link:label>
    <link:label id="lab_bpy_CorePremierRetailCentersMember_documentation_en-US" xlink:label="lab_bpy_CorePremierRetailCentersMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Core Premier Retail Centers</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_CorePremierRetailCentersMember" xlink:href="bpy-20260630.xsd#bpy_CorePremierRetailCentersMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bpy_CorePremierRetailCentersMember" xlink:to="lab_bpy_CorePremierRetailCentersMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bpy_InvestmentIncomeAndOtherRevenues_019e3b4c-3ae9-7927-a6ea-c0ea3d036100_terseLabel_en-US" xlink:label="lab_bpy_InvestmentIncomeAndOtherRevenues" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investment and other revenue</link:label>
    <link:label id="lab_bpy_InvestmentIncomeAndOtherRevenues_019e3b4c-3ae9-705b-84d1-5dc18c3b79b4_totalLabel_en-US" xlink:label="lab_bpy_InvestmentIncomeAndOtherRevenues" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total investment and other revenue</link:label>
    <link:label id="lab_bpy_InvestmentIncomeAndOtherRevenues_label_en-US" xlink:label="lab_bpy_InvestmentIncomeAndOtherRevenues" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment Income And Other Revenues</link:label>
    <link:label id="lab_bpy_InvestmentIncomeAndOtherRevenues_documentation_en-US" xlink:label="lab_bpy_InvestmentIncomeAndOtherRevenues" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Investment Income And Other Revenues</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_InvestmentIncomeAndOtherRevenues" xlink:href="bpy-20260630.xsd#bpy_InvestmentIncomeAndOtherRevenues"/>
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    <link:label id="lab_bpy_SeriesOneSeniorPreferredSharesMember_019e3b4c-398b-7592-a054-b7e1850a754c_terseLabel_en-US" xlink:label="lab_bpy_SeriesOneSeniorPreferredSharesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Series 1, Senior Preferred Shares</link:label>
    <link:label id="lab_bpy_SeriesOneSeniorPreferredSharesMember_label_en-US" xlink:label="lab_bpy_SeriesOneSeniorPreferredSharesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Series One, Senior Preferred Shares [Member]</link:label>
    <link:label id="lab_bpy_SeriesOneSeniorPreferredSharesMember_documentation_en-US" xlink:label="lab_bpy_SeriesOneSeniorPreferredSharesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Series One, Senior Preferred Shares [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_SeriesOneSeniorPreferredSharesMember" xlink:href="bpy-20260630.xsd#bpy_SeriesOneSeniorPreferredSharesMember"/>
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    <link:label id="lab_bpy_GainsLossesRecognisedInProfitOrLossAndOtherComprehensiveIncomeFairValueMeasurementAssets_019e3b4c-3ae9-7af4-840d-0f05152ce08b_verboseLabel_en-US" xlink:label="lab_bpy_GainsLossesRecognisedInProfitOrLossAndOtherComprehensiveIncomeFairValueMeasurementAssets" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Fair value losses gains, net and OCI</link:label>
    <link:label id="lab_bpy_GainsLossesRecognisedInProfitOrLossAndOtherComprehensiveIncomeFairValueMeasurementAssets_label_en-US" xlink:label="lab_bpy_GainsLossesRecognisedInProfitOrLossAndOtherComprehensiveIncomeFairValueMeasurementAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gains (Losses) Recognised In Profit Or Loss And Other Comprehensive Income, Fair Value Measurement, Assets</link:label>
    <link:label id="lab_bpy_GainsLossesRecognisedInProfitOrLossAndOtherComprehensiveIncomeFairValueMeasurementAssets_documentation_en-US" xlink:label="lab_bpy_GainsLossesRecognisedInProfitOrLossAndOtherComprehensiveIncomeFairValueMeasurementAssets" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Gains (Losses) Recognised In Profit Or Loss And Other Comprehensive Income, Fair Value Measurement, Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_GainsLossesRecognisedInProfitOrLossAndOtherComprehensiveIncomeFairValueMeasurementAssets" xlink:href="bpy-20260630.xsd#bpy_GainsLossesRecognisedInProfitOrLossAndOtherComprehensiveIncomeFairValueMeasurementAssets"/>
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    <link:label id="lab_ifrs-full_NotionalAmount_019e3b4c-398b-7d73-8ddb-ff5f9cb849cb_verboseLabel_en-US" xlink:label="lab_ifrs-full_NotionalAmount" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Notional</link:label>
    <link:label id="lab_ifrs-full_NotionalAmount_label_en-US" xlink:label="lab_ifrs-full_NotionalAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Notional amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_NotionalAmount" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_NotionalAmount"/>
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    <link:label id="lab_bpy_CorporateHoldingEntitiesMember_019e3b4c-3a5a-7f9d-ae6f-10d3be561614_terseLabel_en-US" xlink:label="lab_bpy_CorporateHoldingEntitiesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Corporate Holding Entities</link:label>
    <link:label id="lab_bpy_CorporateHoldingEntitiesMember_label_en-US" xlink:label="lab_bpy_CorporateHoldingEntitiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Corporate Holding Entities [Member]</link:label>
    <link:label id="lab_bpy_CorporateHoldingEntitiesMember_documentation_en-US" xlink:label="lab_bpy_CorporateHoldingEntitiesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Corporate Holding Entities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_CorporateHoldingEntitiesMember" xlink:href="bpy-20260630.xsd#bpy_CorporateHoldingEntitiesMember"/>
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    <link:label id="lab_bpy_DisclosureOfDetailedGeneralAndAdministrativeExpenseTableTextBlock_019e3b4c-3ae9-73b3-b146-db0a83877458_terseLabel_en-US" xlink:label="lab_bpy_DisclosureOfDetailedGeneralAndAdministrativeExpenseTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of General and Administrative Expense</link:label>
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    <link:label id="lab_bpy_DisclosureOfDetailedGeneralAndAdministrativeExpenseTableTextBlock_documentation_en-US" xlink:label="lab_bpy_DisclosureOfDetailedGeneralAndAdministrativeExpenseTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure Of Detailed General And Administrative Expense [Table Text Block]</link:label>
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    <link:label id="lab_ifrs-full_OtherNoncurrentNonfinancialLiabilities_019e3b4c-398b-7324-981f-98a56e979cc9_terseLabel_en-US" xlink:label="lab_ifrs-full_OtherNoncurrentNonfinancialLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other non-current liabilities</link:label>
    <link:label id="lab_ifrs-full_OtherNoncurrentNonfinancialLiabilities_019e3b4c-398b-717f-9e82-b038a35d9fa7_totalLabel_en-US" xlink:label="lab_ifrs-full_OtherNoncurrentNonfinancialLiabilities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total other non-current liabilities</link:label>
    <link:label id="lab_ifrs-full_OtherNoncurrentNonfinancialLiabilities_label_en-US" xlink:label="lab_ifrs-full_OtherNoncurrentNonfinancialLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other non-current non-financial liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherNoncurrentNonfinancialLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2025-03-27/full_ifrs/full_ifrs-cor_2025-03-27.xsd#ifrs-full_OtherNoncurrentNonfinancialLiabilities"/>
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    <link:label id="lab_bpy_PreferredSharesRedemptionPricePerShare_019e3b4c-3a5a-7f97-8bb3-f3bd20e3da0b_terseLabel_en-US" xlink:label="lab_bpy_PreferredSharesRedemptionPricePerShare" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Preferred stock, redemption price per share (in dollars per share)</link:label>
    <link:label id="lab_bpy_PreferredSharesRedemptionPricePerShare_label_en-US" xlink:label="lab_bpy_PreferredSharesRedemptionPricePerShare" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Shares, Redemption Price Per Share</link:label>
    <link:label id="lab_bpy_PreferredSharesRedemptionPricePerShare_documentation_en-US" xlink:label="lab_bpy_PreferredSharesRedemptionPricePerShare" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Preferred Shares, Redemption Price Per Share</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bpy_PreferredSharesRedemptionPricePerShare" xlink:href="bpy-20260630.xsd#bpy_PreferredSharesRedemptionPricePerShare"/>
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    <link:label id="lab_ifrs-full_CurrentLeaseLiabilities_019e3b4c-3ae9-78c5-b3e2-62c3f93a065e_terseLabel_en-US" xlink:label="lab_ifrs-full_CurrentLeaseLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Current lease liabilities</link:label>
    <link:label id="lab_ifrs-full_CurrentLeaseLiabilities_019e3b4c-3ae9-776e-9a37-cb249bfe842c_verboseLabel_en-US" xlink:label="lab_ifrs-full_CurrentLeaseLiabilities" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Lease liabilities</link:label>
    <link:label id="lab_ifrs-full_CurrentLeaseLiabilities_label_en-US" xlink:label="lab_ifrs-full_CurrentLeaseLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current lease liabilities</link:label>
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    <link:label id="lab_bpy_BorrowingsReclassificationToHeldForSale_documentation_en-US" xlink:label="lab_bpy_BorrowingsReclassificationToHeldForSale" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Borrowings, Reclassification To Held For Sale</link:label>
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    <link:label id="lab_ifrs-full_DisclosureOfDetailedInformationAboutInvestmentPropertyExplanatory_019e3b4c-398c-750d-ab74-835d8aaf7925_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfDetailedInformationAboutInvestmentPropertyExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Roll Forward of Investment Property Balances</link:label>
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