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I wonder why they put it in at all?

Because this is on private property and they don't want you going further down the road.

The property is mostly abandoned, so I guess they don't want homeless people making a camp there, or something along those lines.

As if it does a wall's duty.

In the US, a posted sign is all it takes for the police to arrest and prosecute you for trespassing. Typically they will just tell you to leave - but if you try to argue, they have a legal right to arrest you and prosecute you.

Strange, it might end up with a fight in other countries :)

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