Is zakat obligatory on land that was purchased with the intention of trade, then its price fell, so its owner temporarily abstained from selling it, and two years have passed since then? If it is obligatory, would it be for two years at a rate of 2.5% of its market value?

Land purchased with the intention of trade is subject to zakat every year, as long as its value has not fallen below the nisab, regardless of changes in its value. The amount of zakat is one-quarter of one-tenth (2.5%) of its value in the year it became due. Zakat is calculated based on its value in each independent year.