5. Zakat on Investment Property
Zakat is NOT payable on personal residential property even if you have more than one. Also Zakat is NOT applicable on the net value of your investment Properties. However Zakat is payable on the rental income derived from any investment property.
If your intention is to sell your investment property at a future date for a profit, then Zakat is payable on the Net Sale Value. Also, if your intention changes in the current year (i.e. from rental income investment, to sell for a profit) then you need to pay Zakat on that Net Property Value.