RG,

There is a village called Mandria very close to Paphos airport, so I suspect it will be rather noisy.

In general I would not advise investment in Cyprus at the moment. It is most definitely a buyer's market (one agency has over 23,000 properties on it's books).
Tourist figures are well down, particularly Brits, as a result of the pound dropping @ 20% v. the euro over the last year plus generally rising prices.

If you are interested in buying, for whatever reason, you MUST visit the island and do your own due diligence (see thread on this subject). Never believe the agents hype.