As long as you plant it in something that has good free-draining soil, it should do fine. There are some varieties that might need a bit more sun to maintain a darker red color but other than that, these types of trees seem to thrive at the edge of the "understory", which a covered balcony can often mimic. Do check the hardiness of whatever you would get as some are more tender if placed in a container and not protected during harsher winters.