Strata title (condominiums)
A foreigner can directly own an apartment above the ground floor in a condominium licensed for foreign sale (up to 70% of the building's units). It is full freehold ownership, with the title in your name.
Perpetual leasehold (houses)
Foreigners can't buy land, so houses (for example at Bakong Village) are held on a long lease: 50 years plus an automatic 50-year renewal, registered with the cadastre (CPLT). It gives the rights to use, sell and transfer.
What to check
The condominium licence, the construction permit, the company registration (MOC) and a sample contract. You'll find them all in Resources.
This is general information; confirm terms with the developer and a lawyer at the time of the deal.