This refers to the HTML representation of the property to be included on the item page. Properties may be displayed on an item page within statements, or within references added to statements.
In the first version of the MVP, we intend for the property label hyperlink to point to the Wikidata property page (see: T246125). In the near term, however, it would be preferable for the hyperlink to point to a local "shadow page" for the property.
Current State