The idea of moving to Spain has just become a little more enticing - if not in any way practical.

New research has found it is potentially cheaper to commute to London from Madrid than actually live in the English capital.

By moving to the Spanish city, those who work in London would save £403 a month, despite having to fly into the capital from Monday to Thursday.

The research, from Labour Mayoral candidate Tessa Jowell, found that a Londoner who worked in Liverpool Street spent £2,016 a month on rent and travel expenses.

Living in an average one-bedroom flat in Camden made up the majority of the cost at £1,893. The rest of the sum was made up by £111.40 on council tax and £123.30 on a zone 1-2 travel card.

But a fully-furnished apartment with air-conditioning in Madrid cost just £532, as well as flights to London Stansted airport and train tickets, would only amount to £1,725 per month.

In total, the move to Spain could save £4,836 a year.

“The housing crisis is getting worse all the time – and renters are paying the price,” said Jowell.

The most expensive cities in the world 2015 Show all 10 1 /10 The most expensive cities in the world 2015 The most expensive cities in the world 2015 1. Grand Cayman, Cayman Islands The largest island in the Cayman Islands group, Grand Cayman is the most expensive city in the world to live in David Rogers/Getty Images The most expensive cities in the world 2015 2. Zurich, Switzerland Switzerland's largest city, Zurich, takes the number two spot FABRICE COFFRINI/AFP/Getty Images The most expensive cities in the world 2015 3. London, United Kingdom The British capital of London is the third most expensive city in the world Chris Jackson/Getty Images The most expensive cities in the world 2015 4. Geneva, Switzerland One of three Swiss cities to appear in the top 10, Geneva is the world's third most expensive city Mike Hewitt/Getty Images The most expensive cities in the world 2015 5. New York City, USA The Big Apple is the fifth most expensive city in the world Afton Almaraz/Getty Images The most expensive cities in the world 2015 6. San Francisco, USA San Francisco, on the other side of the country, comes one place behind NYC Ezra Shaw/Getty Images The most expensive cities in the world 2015 7. Washington, DC, USA America's seat of power, Washington, DC, is the 7th most expensive city Brendan Hoffman/Getty Images The most expensive cities in the world 2015 8. Bern, Switzerland The Swiss capital is the 8th most expensive city in the world FABRICE COFFRINI/AFP/Getty Images The most expensive cities in the world 2015 9. Hong Kong The city-state of Hong Kong is the ninth most expensive city in the world PHILIPPE LOPEZ/AFP/Getty Images The most expensive cities in the world 2015 10. Singapore Another city-state, Singapore, edges in to the top 10 most expensive cities in the world ROSLAN RAHMAN/AFP/Getty Images

“Londoners are now paying so much to landlords that they could be better off commuting from Madrid than staying in London.”

Jowell added that housing in London would be one of her first priorities if she was elected as Mayor next year.