I've played GTA V and Saints Row 3/4 and I have to say I think Saints Row did it a lot better.
Property ownership in GTA V seems like some afterthought they threw in there so they could be like Saints Row. In Saints Row you could actually own stores and properties that had a real effect on the game. I used to buy all the Friendly Fire stores. Not only did I get extra income, but I got discounts on ammo too.
I bought the Movie Theatre, Golf Course, and Cannibis Shop in GTA V, and I feel like I've really gotten nothing for all the money I spent. Just the bragging rights to say I own a Movie theater or weed shop. Wish I could buy Ammu-nation or LSC.