European commercial mortgage-backed securitisation (CMBS) has been enjoying a period of tremendous growth. Issuance volume for 2007 year-to-date is running at approximately E28bn (£19bn), having had a 47% increase in volume in the first quarter of 2007.
These figures, coming off the back of 2006′s total issuance of just under E63bn (£42.4bn) and the total tally for 2005 of E47bn (£31.6bn), have led to predictions that there is still room for growth in the European CMBS market and that the total issuance for 2007 may hit the E100bn (£67.3bn) mark. The buoyancy in the market has been attributed to a variety of factors, including:
