China's home prices still climbing in May despite market curbs

Beijing

HOME prices levelled off in China's biggest cities in May but continued to climb nationwide, indicating demand remains resilient despite a series of government measures to keep the market from overheating.

Firm price gains highlight the challenge Chinese authorities face in calming a frothy market without disrupting the economy, in which real estate is a major driver of growth.

Economists say the pace of price growth across different market tiers clearly shows a passing of the baton from the centre to the re…