Is zakat obligatory on a house purchased by installments with the intention of selling it, but not yet received?

Zakat (definition) is obligatory on a house bought with the intention of reselling it, as it is considered a trade commodity. This is conditional on its value reaching the legal nisab (definition) (minimum threshold) either by itself or when combined with other money the person possesses. This nisab is equivalent to 85 grams of gold or 595 grams of silver. It is also a condition that a full lunar year (hawl) passes on its purchase price, while taking into account the deduction of debts from it according to the majority of scholars. There is no zakat on a house inhabited by a person, unless it is sold and a full year passes on its price, and it reaches the legal nisab.