Using @property versus getters and setters

What advantages does the @property notation hold over the classic getter+setter? In which specific cases/situations should a programmer choose to use one over the other?

With properties:

class MyClass(object):
    @property
    def my_attr(self):
        return self._my_attr

    @my_attr.setter
    def my_attr(self, value):
        self._my_attr = value

Without properties:

class MyClass(object):
    def get_my_attr(self):
        return self._my_attr

    def set_my_attr(self, value):
        self._my_attr = value