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It all depends upon what you want, but I really think buying in Torrevieja would be a mistake at the moment. I expect that you’d be better off getting poor interest on your money in the bank, than investing in Torre.
The nicer places of course cost more, a lot more. But would probably make a safer investment.
As for where to buy, there is some nice property near Denia. However. I just wouldn’t recommend Spain as property investment at the moment.
There is a lot of hype (mainly from agents) about price reductions. But these claims are frequently exaggerated. We are a long way from reality in the expat market IME.