This year is set to be a significant one for the commercial mortgage-backed security market in Europe. Driven by investors’ search for yield, the demand for CMBS is already very high and, if the number of issuances over the past 24 months is anything to go by, the coming year could see a further rise.

In the last 24 months there have been 30 transactions in CMBS, which are tradable packages of loans secured on office blocks, shopping centres or other commercial properties. More than 20% of that issuance was this year. Several more are either planned or being launched before summer.