The article presents a multidimensional comparative analysis of the impact of crude oil and liquefied petroleum gasses (LPG) prices on the housing price index in 28 European countries. Research shows that the COVID-19 pandemic and the attack of Russia on Ukraine have led to similar large fluctuations in crude oil and LPG prices. This, in turn, contributed to an increase in inflation and house price indices in the 28 analyzed European countries. Such an increase was driven by higher total construction costs, including higher prices for materials, energy and charges for building services. Housing prices in respective European countries vary. The study examines the dynamics of their changes and compares them with the use of ranking.