It all comes down to flexibility.
There are 3 reasons I can see for using properties files over statics.
1) They can be modified without changing and rebuilding the code.
2) The values can be modified/overridden inside the application while it is running.
3) They allow for multiple instances of the same code to run along side each other in the same JVM with different configurations. This can happen with some third party libraries.
The java.util.Property class contains support for loading from a stream, so you can just load once and re-use that instance. Unless the only thing your application does is property lookups or you have an enormous number of attributes I would not worry too much about overhead here.