Prayer TimesReal estate held for commercial purposes is subject to zakat. Properties that individuals buy and sell for trade are included in this category. Accordingly, if the value of real estate such as offices or residences—kept not for personal use but for buying and selling—reaches the nisab amount after deducting one year's debts, and a lunar year has passed over it, zakat at the rate of one-fortieth (2.5%) must be paid. (See Kâsânî, Bedâ’i, 2/6, 20)
The zakat for real estate held for commercial trading is calculated based on its current market value at the time of zakat calculation. However, land purchased with the intention of building a house, shop, field, or vineyard/orchard is not subject to zakat.
Source: T.C. Diyanet İşleri Başkanlığı, Din İşleri Yüksek Kurulu
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