"En dyr eiendom"
Translation:An expensive property
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"Eiendom" can technically refer to both, but is mostly used to refer to a piece of land. In this sentence, that's the only way I'd interpret it. "Eiendel" is used strictly to refer to your things; your possessions or belongings.
So you keep your "eiendeler" in your house, which stands on your "eiendom".
You can say "Dette er min eiendom", "This is my property", to express ownership of things as well. It's another way of saying "This is mine".