Since multi-temporal very-high-resolution (VHR) satellite images generally have geometric misalignment, image co-registration process is required to minimize it. To perform precise image co-registration, extraction of reliable conjugate points (CPs) is an important process. Moreover, CPs extracted from elevated objects can cause severe relief displacements according to acquisition angles of images. In this study, the effect of CPs extracted from buildings on co-registration performance was analyzed. To this end, CPs were extracted using a method that combines feature-based and area-based matching methods, and digital map was used to remove CPs extracted from the buildings. Root mean square errors (RMSE) was calculated using manually obtained checkpoints to evaluate the accuracy of co-registration according to the presence or absence of CPs extracted on buildings. When CPs extracted from buildings were removed, the RMSE of the checkpoints extracted from the dense-building area was improved by more than 4 pixels.