Sarawak Housing and Urban Development Ministry does not foresee a "housing bubble" in the state, says its minister Datuk Amar Abang Johari Tun Abang Openg Wednesday.

He said housing bubble might be forming in countries like China and Japan but the local housing market was a "real demand".

"As far as Malaysia, including Sarawak, is concerned, there is no housing bubble in sight. We've the mechanism to determine the supply and demand.

"Through the Sarawak Planning Authority, we can match the supply and demand for houses," he told reporters after launching the SME Factors Sdn Bhd's SME success suite of solutions Wednesday.

Asked to comment whether there was a housing bubble forming in the state, Abang Johari said demand was still high for low-cost and medium-cost houses in the state.

"With the launching of My First Home Scheme to help people who have just started working with an income of not more than RM3,000 a month to buy their first house with 100 per cent loan will bolster demand for houses in the state," he added. - Bernama