Governments, international organisations and non-governmental organisations derive a considerable part of their understanding of corruption and how to counter it from independent research. So far, the supply side of corruption – consisting of those who are requested to provide the funds (and goods, services) in order to have their interests satisfied – has been studied extensively, particularly in the context of international development assistance, while the demand aspect has remained comparatively understudied. A welcome development is Transparency International’s (TI) recent attention to the “beneficiary” – the natural person gaining from the corrupt transaction concealed behind the legal person’s veil. In this paper, I deepen the analysis by examining the outer circle of beneficiaries, those indirectly profiting from, but necessary to, and one step removed from, the primary corrupt transaction. This paper thus tackles the indirect demand side-effect of the corrupt transaction. It focuses on the beneficiary in the residential real estate sector in metropolitan cities who facilitates – deliberately or not, knowingly or not, the laundering hence integration of proceeds of corruption into the housing economy.