China's property market continued to recover in March, with most of surveyed major cities reporting month-on-month rises in new home prices.

62 of the 70 large and medium-sized cities surveyed saw new home prices surge month on month, up from 47 in the previous month.

Meanwhile, eight cities reported month-on-month price declines, down from 15 in February.

On a yearly basis, 40 cities posted new-home price increases and 29 reported falls in March, compared with 32 and 37 in February.

New-home prices in Shenzhen soared 62.5 percent year on year.  That was the sharpest increase last month among all the major cities, followed by Shanghai, Nanjing and Beijing.