Is there zakah on land, and how is its zakah calculated?

Question : The second question: There is a piece of land in a joint venture that had a good value four years ago, but its value has decreased significantly until it became less than the capital. That is, if he wanted to sell it these days, it would not be worth what he has in it. So how does he pay its zakah?

Answer : If the man does not trade in real estate, there is no zakah on it, whether its value increases above its purchase price or decreases, as long as the man does not trade in real estate. But if he trades in real estate and this land is among what he bought to trade in, then there is zakah on it, and the value considered is its value at the time the zakah becomes due, whether it is less than what he bought it for or more.