Les Jolies Eaux is a former royal residence on a headland on the 1,250-acre (510 ha) island of Mustique, St Vincent and the Grenadines. The villa is in a protected landscape, encompassed by the Caribbean seascape.

The native French name means 'Beautiful Waters' and sits on 10 acres (4.0 ha), given as a wedding present to Princess Margaret in 1959 by Colin Tennant, later Lord Glenconner. The main house, completed in 1972, was designed by the princess's uncle-in-law Oliver Messel in a theatrical neo-Georgian style. Messel incorporated natural elements of the island in his design. It has an open plan with five bedrooms and a drawing room. There are also two lodges, and 10 acres (4.0 ha) of land. This estate was the only property the princess ever owned and she visited regularly, with a range of aristocratic and Hollywood friends.

The house was given to her son David in 1996 as a wedding gift. He subsequently placed it on the market; it sold in 1999 for a reported 2 million dollars. Like most of the villas on Mustique it is now available for weekly rentals; tariffs range from $25,000 to $47,000 per week (as of 2022), depending on the season.

Les Jolies Eaux has been referenced in 20th and 21st century media including Netflix's The Crown and BBC Two's series Princess Margaret: The Rebel Royal.