Temporary rent allowances will be given to people made homeless by urban redevelopment.
Deputy Secretary for Planning, Environment and Lands Stephen Fisher said the amount would be enough for a flat similar in size to their previous home.
The allowance would last until new flats in the same district were provided.
Mr Fisher said he did not anticipate a heavy burden for the proposed Urban Renewal Authority because only about 10 to 15 per cent of residents would choose to be rehoused in the same district.
About 1,000 families will need to be rehoused each year over the next 20 years.