You are thinking of improper wiring in your building. Not impossible, but not likely, either, because MOST buildings were build to meet a regulatory code and inspected to be sure. However, we must recognize that rules are broken sometimes.
Almost ALL domestic cirsuits are wired with 14AWG wires suitable for 15 amps max load with very little voltage drop over any "normal" cable run length from breaker panel to outlet. From the supply transformer outside to the breaker panel is a different cable, of course, for much higher total loads. The 8 v drop you see is not normal. The most common cause of that is there is one or more poor connections in the cable run you are plugged into. And the quickest way to check that, as others said, is to repeat your voltage measurements back at the breaker panel where the line starts as it comes out of the specific breaker for that circuit. If there is no voltage sag there, that indicates the problem is somewhere is the cable run for that circuit. If the voltage sags there also, then the problem is ahead of that. Could be either in the breaker itself, or in the supply cables coming from the outside. Checking for voltage sag at the point where the supply cable connects to the main breaker panel bus will tell you that one. That would give you a good clue whether the electical supply company or the building owner should be fixing the problem. Of course, if you don't feel confident doing this kind of probing in the electrical system, follow the suggestions from tekmerion and have the electrical utility people do a preliminary problem-isolation check as he said.
If the voltage sag is absent at the breaker panel, then you MIGHT be able to narrow the search along the specific circuit. First you need to know which outlets and lights are on it. Then you run your voltmeter tests at each outlet in turn, looking for a change from no voltage sag to 8 v sag. If there is a particular problem like a bad connection, it will be between the zero-sag and 8 v-sag points. It would be comforting to fix this problem. IF it is one poor connection in a box somewhere, 80W of heat trapped in it can raise the temperature quite a bit. And then, what happens if the bad connection continues to get worse and generate even more heat?
Of course, you MIGHT find that the sag does not show a step change down the circuit, but simply a smoothly increasing measured sag as you progress along the line. Then you just have to assume it is a matter of heavy load on a long line, stop worrying and put up with the behavior.