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Zakat On Investment Property Bought With Mixed Intention
Assalamu alaikum,
If an investment property is purchased on mortgage with a mixed intention i.e. first to earn rental income for some years, and then to sell the property after around 10 years to realise capital gain, then what is the correct and fair way to calculate zakat on it?
With this mixed intention, should zakat be paid only on the rental income (production), or should zakat be paid on the market value of the property itself or both (production and asset)?
Is there any response from Ghamidi sb on this or similar question?
Thanks.
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1 Reply
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Zakat On Investment Property Bought With Mixed Intention
updated 1 week ago
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The first use of it was rental, and then it will be sold. As long as one gets the rent, he will pay zakat on the rental income, that is, 10 percent of the rent, and when it is sold, then it becomes an asset, and zakat will be paid after a year at the rate of 2.5 percent.
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