This study attempts to employ the Hedonic Price Model to explore the factors attributing to the prices of residential buildings. Results show that there is a significant negative effect on the distance to school and park, and significant positive effect for store, garage and first floor on residential housing prices. The top-floor effect on the housing price is not significant, perhaps due to the influence of first floor. For commercial uses of first floor, the distance to the subway station has negative effect on the real estate price. As for the flat efficiency ratio, the effect of first floor is the highest and the effect of fourth floor is the lowest. Conclusions of this study may provide valuable references to product pricing for developers, home buyers and real estate appraisers.