Zakat Questions and Answers
Safiya is buying a house to rent out to tenants. Perhaps, if its value increases substantially in a few years, she may consider selling it, but when the contracts are exchanged she has no fixed plans about selling it. The value of Safiya's house is not subject to zakat, although any income she earns by letting it out will be.
What part of my wealth is not zakatable?
Any goods, other than gold or silver, that you have not bought for resale are non-zakatable. No zakat is payable on your personal belongings, such us a house or a car.