Does Zakat become obligatory on a piece of land that was purchased for trade and its value has increased, but it cannot be sold now, and how is its Zakat to be paid?

Zakat (definition) is obligatory on trade goods, by the consensus of most scholars. The eminent scholar Al-Uthaymeen based its obligation on the hadith (definition), "Actions are but by intentions," because these goods are wealth. This is further supported by the Companions' request for zakat on the armor and weapons of Khalid ibn al-Walid, as they were intended for trade. For zakat to be obligatory on trade goods, two conditions must be met: ownership of the goods through a contract of exchange, and the intention for trade at the time of acquisition. Therefore, you must pay zakat on the value of the land every year, by appraising it at the end of the year and giving out two and a half percent (a quarter of a tenth) of its value.