Swire Properties is expected to release 40 to 50 luxury units in its Star Street residential development near its Pacific Place shopping centre at about $6,000 per square foot. Swire has received pre-sale consent from the Government to sell 329 units which measure between 700 square feet and 1,200 sq ft. A Swire official said yesterday the developer had not yet decided how many units it would release to the market or when. However, considering the vastly improved buying sentiment, analysts said Swire would come to market with the units sometime early next year. The Swire official said that prices could easily rival prices fetched for new flats recently released along the airport railway. 'Wing Tai [the developer] is expecting prices of around $8,000 per square foot for units at the Kowloon Station,' the Swire official said. But a number of analysts said about $6,000 per square foot would be a more reasonable asking price for the units. According to one analyst, the average price of a second-hand flat on Hong Kong Island was about $5,000 per square foot. 'These would be reasonable prices considering the market has improved quite a bit,' Herbert Lau Chung-kwan, analyst with Vickers Ballas, said. However, another analyst said he would be 'shocked' if Swire did not charge more than $6,000 per square foot for the units due to its location next to Pacific Place.