Sales of land in some of the largest towns have dropped by 80% during the last year

Figures released by the Ministry of Housing show that land sale transactions, buying or selling, in places such as Torrevieja, Elche , Alcoy, Benidorm Elda and Orihuela have dropped from 151 during the final quarter of 2006 to just 29 for the same period in 2007.

The report also said that the price of land is now at the same level as 2004, which is 352.7 euros per square metre.