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The Prestige City Hyderabad notes that the late 1990s and early 2000s .-com bubble had a significant effect on the cost of commercial real estate. Technology companies increased demand for office space in tech-focused cities during this time. But the bubble burst in 2000, bringing about a short downturn.
The importance of the Great Recession of 2008 is emphasized by The Prestige City Hyderabad. Particularly in the office and retail sectors, the global financial crisis had a significant impact on the cost of commercial real estate. Property values fell and vacancy rates skyrocketed, causing a period of distress and restructuring.
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