Private developer Wincome Group will test sentiment in the luxury market with the release of two townhouses on The Peak at asking prices of more than $12,000 per square foot. Wincome sold three houses in the same 10-unit development, at 74 Mount Kellett Road, late last year for about $9,000 per square foot. Financial controller Herman Wong said the two were being released at higher prices because of improved sentiment. Mr Wong expected buyers to submit lower bids but there was a limit to how flexible the developer would be. He said: 'I doubt that we would sell the units for much lower than we are asking. We anticipate we will get $12,000 per square foot. 'Swire was able to sell one of their duplexes in StarCrest in Wan Chai for over $10,000 per square foot. 'We think we can get a higher price per square foot for our units on The Peak.' The two houses, which measure 3,800 and 4,200 square feet, are priced at $49 million and $50 million, according to sales agent Chesterton Petty. Agents said it made sense to bring the units to market since prices had just about bottomed out. 'I don't think we are going to see further dramatic corrections in prices,' said Frank Marriott, managing director at FPDSavills Realty. 'Right now there is more upside to the economy than downside.' However, Mr Marriott and others said buyers in the high-end luxury sector were few and far between at present. Mr Wong was not concerned by a lack of sales in the luxury sector. 'There are still people around with a lot of money and they are waiting for the right opportunity to buy,' he said.