The World Heritage Committee in its 16th session, inscribed Cultural Landscapes, characterizing those mixed type of heritages which neither had purely natural nor purely cultural properties, as an option to be included in the World Heritage Lists thus spearheading the proliferation of studies from states, specialists and academics on the different aspects surrounding the concept. Amidst the increased popularity however, some cultural landscapes remain in the brink of danger and loss of culture. Based from the cultural economics approach, this study firstly provides an overview on economic valuation methodologies revealing possible limitations not considered from within the discipline as non-use and cultural values that form part of the regenerative properties of the site. Following this, the research then draws from multi-disciplinary studies with emphasis on the growing literature on cultural commons to provide perspectives on the role of the said values to sustainability. The study then culminates on a case of the Rice Terraces of the Philippines Cordilleras to provide real-life application of findings.