Is A Real Estate Agent Obliged To Give Zakat Of The Real Estates That Are Owned By Him?

Is a real estate agent obliged to give zakat of the real estates that are owned by him?

For the real estate agents, real estate property they sell and purchase with the purpose of trade is subject to zakat. Accordingly, real estates owned by real estate agents for the purpose of buying and selling are subject to zakat at the rate of one fortieth (2.5%) if their value reaches the amount of nisab after deducting the debts arising from them. (Kasani, Bada’i, II, 20). Hence, zakat is given by calculating real estate entering in possession together with the other estates after the moment the person becomes responsible for the payment of zakat. While giving zakats of the estates in this scope, the market value at the time when zakat is given is taken as basis.

Source: Presidency Of Religious Affairs The Turkey, High Board of Religious Affairs FATWA