Malmo's city centre is quite compact and most of the main places of interest are within easy walking distance. The city really is a pleasure to wander and finding your way around is simplicity itself. Everything is well signposted and there are plenty of easy-to-read street maps (also available from the tourist office) scattered around in strategic locations.
Old Town Malmö is very, very walkable.
The main sights in old town are laid out in a large cross (+)... centered on the Main Square. North to south, from St. Peters to Malmöhus takes only about 10 minutes, and you can pass right through the Main Square and Little Square on your way. East to west, travel from Central Station through Main Square and along the Pedestrian Street to Gustav Adolphs Square.
During our 10 hours here, we never once had to use a taxi or a bus!
One of the best ways to experience the city of Malmo is on foot. Most of the main sights are just within walking distance from the central train station.