Pros: Unless you live on the ground floor, you can leave your windows open when you are away. You can save a lot on heating. Tidying up is easier. Houses tend to be lots of work, while in apartment you don't have to deal with stuff like fixing the roof, plumbing, taking care of the garden...
Cons: You can't chill in the garden. You have no outdoor place just for yourself. Growing plants and vegetables would be impossible or very difficult. (Some people actually grow tomatoes in a pot. 🧐) Obviously, you can't grow your own trees or have an orchard. You can feel like you don't have enough space to move around freely. You hear your neighbours arguing and they can hear you. You don't know who to complain to when someone is smoking in the building and the smoke fills your apartment. Your neighbour from the apartment above can flood your apartment. Sometimes you can smell what are your neighbours cooking or that they burnt their meal. 😬
Honestly, I think the best option would be an apartment with a small sunny terrace for me. A balcony is not enough.