higher floor car park is okay as long as there is shortcut ramp to your parking floor and no need to make so many turn/round to get to it.

the place i currently stay at,

carpark at Level 4M1.

to get to there, i need to go through M>1>1M1>2>2M1>3>3M1>4>4M1

thats 8 ramp and 8 turn i need to go through, stupid developer.

Above ground .....

Advantages

1. Better ventilation

2. Natural day 'lighting' ....better security and for driving. No dark corners.

3. No flooding

Disadvantage

1. Car plunging ....unlikely but do happen.

Some basement car parks are on slope,....better than fully covered basement type.

Unless you're talking about prime area, which the land cost is too high which the developer need to spend a lot of money to do basement carpark and maintenance for basement carpark also cost more. Which will directly reflect on the tenants maintenance charges.
Most management with try to safe cost by switching off the basement carpark ventilation and causing higher temperature and humidity. If they didn't manage the sump pump well enough might even flood the carpark. A bad quality carpark also having underground water seepage problem for the lowest floor.
The only pro for underground carpark is less dusty and no water splash in when heavy rain.

I have experience renting a condo, with level 5 carpark. Its a freaking nightmare because of the design. You have to go through almost every single parking lots to move up the ramp. And there's 2 bumps on every 0.5 floors. Imagine that! I really hated it. Took quite awhile just to get your car parked.

On the other hand, the condo that im staying right now has their underground visitor parking always flooded. The pumps not working well yada yada.

So if you were to ask me, i would look at the layout first. But lower is always better (as long as not underground). You get to be the earlier person to get the lift too! (in case of rush hours)